How consumption influence the equilibrium price
How does rise in price of a substitute good in consumption influence the equilibrium price?
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Answer: With the increase in price of the substitute good, the equilibrium price of concerned good will rise owing to shift in demand curve to the right.
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When cranberries are a constant cost industry and that firm is typical, in that case the industry’s long-run supply curve is curve as: (i) curve A. (ii) curve B. (iii) curve C. (iv) curve D. (v) curve E. Discover Q & A Leading Solution Library Avail More Than 1422809 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1937019 Asked 3,689 Active Tutors 1422809 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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