Suppose that oil prices sharply increase, while more cities pass laws banning the use of plastic bags
Question:
a. Can we use this information to be certain whether the equilibrium price of recycled plastic will increase or decrease?
b. Can we use this information to be certain whether the equilibrium quantity of recycled plastic will increase or decrease?
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a The following graph shows the initial equilibrium price P 1 and equilibrium quantity Q 1 in the ma...View the full answer
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