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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The present value of an annual income stream which goes on forever equals the annual income as: (w) times infinity. (x) divided by the wage rate. (y) multiplied by the interest rate. (z) divided by the interest rate. Discover Q & A Leading Solution Library Avail More Than 1438210 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1947030 Asked 3,689 Active Tutors 1438210 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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