Principles of Microeconomics, 7th Edition

Published by South-Western College
ISBN 10: 128516590X
ISBN 13: 978-1-28516-590-5

Chapter 4 - Part II - The Market Forces of Supply and Demand - Problems and Applications - Page 87: 3

Answer

a) Change in taste -> need larger minivans. Demand increases b) Input prices increases. Supply decreases c) Technology improves productivity. Supply increases d) Price of substitute rises. Demand increases e) Income decreases. Demand decreases

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