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Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0077332648Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0077332648 Exercise 19
The supply curve in Figure 3P-2 shows the monthly market for sweaters at a local craft market. For each of the following events, draw the new outcome.
a. The price of wool increases.
b. Demand for sweaters decreases.
c. A particularly cold winter is expected to begin next month.
d. Demand for sweaters increases.
a. The price of wool increases.
b. Demand for sweaters decreases.
c. A particularly cold winter is expected to begin next month.
d. Demand for sweaters increases.
Explanation
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Shift and movement:
A shift in the deman...
Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
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