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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 1
The demand curve in Figure 3P-1 shows the monthly market for sweaters at a local clothing store. For each of the following events, draw the new outcome.
a. Sweaters fall out of fashion.
b. There is a shortage of wool.
c. The winter is particularly long and cold this year.
d. Sweater vendors offer a sale.
a. Sweaters fall out of fashion.
b. There is a shortage of wool.
c. The winter is particularly long and cold this year.
d. Sweater vendors offer a sale.
Explanation
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Shift and movement:
A shift in the dema...
Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
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