For each of the following changes, state what will happen to demand and market equilibrium price and

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For each of the following changes, state what will happen to demand and market equilibrium price and quantity in the short run?

a) The price of a substitute good rises.

b) Consumer incomes fall, and the goods are inferior.

c) A medical report is published showing that this good is hazardous to your health.

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Economics

ISBN: 978-1285738321

12th edition

Authors: Roger A. Arnold

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Question Posted: May 23, 2013 05:33 AM

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For each of the following changes, state what will happen to demand and market equilibrium price and

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a Since substitute good is costlier consumers would buy more o...View the full answer

Economics

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