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    Microeconomics Study Set 49
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    Exam 1: Analyzing Economic Problems
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    Suppose That We Illustrate Demand and Supply with Quantity on the Horizontal
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Suppose That We Illustrate Demand and Supply with Quantity on the Horizontal

Question 1

Question 1

True/False

Suppose that we illustrate demand and supply with quantity on the horizontal axis and price on the vertical axis. Let demand be a function of price and income, Qd (P, I). A change in income will cause a shift in the supply curve.

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