Question

The Mini-Case “Substitution May Save Endangered Species” describes how the equilibrium changed in the market for seal genitalia (used as an aphrodisiac in Asia) when Viagra was introduced. Use a supply-and-demand diagram to illustrate what happened. Is it possible for a positive quantity to be demanded at various prices, yet nothing is sold in the market?



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  • CreatedNovember 13, 2014
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