Use supply-and-demand diagrams to demonstrate how each of the following events (a-d) affects the market for S.U.

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Use supply-and-demand diagrams to demonstrate how each of the following events (a-d) affects the market for S.U. apparel. Be sure to show and explain what happens to the equilibrium price and quantity of S.U. apparel.

a. Many fans head to the Dome to watch the big game.

b. Bad weather damages the cotton crop.

c. Student enrollment at S.U. rises.

d. Many new stores selling S.U. apparel open on Marshall Street.

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Microeconomics

ISBN: 978-1429283434

3rd edition

Authors: Paul Krugman, Robin Wells

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