If firms know the price of their output is going up because people have changed their tastes

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If firms know the price of their output is going up because people have changed their tastes and increased their demand for the firms’

output (this being a real shock), how will firms change their output?

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Economics Barrons Business Review Series

ISBN: 9781438008776

6th Edition

Authors: Walter J. Wessels

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Question Posted: Feb 18, 2024 04:00 AM

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If firms know the price of their output is going up because people have changed their tastes

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A change in taste that increases the demand for a good means firs...View the full answer

Economics Barrons Business Review Series

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