Question: give short answer in 25 mins i will thumb up Short Question 4 (10%) Assuming an initial market equilibrium, what is going to happen if

give short answer in 25 mins i will thumb up Short

give short answer in 25 mins i will thumb up

Short Question 4 (10%) Assuming an initial market equilibrium, what is going to happen if there is an decrease of the income of the consumers? How this will affect the new equilibrium price and quantity. Use a supply and demand diagram to explain your

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