market questions come in two typestype 1 you are, Macroeconomics

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market questions come in two typestype 1 you are

Market questions come in two types:

Type 1: you are given the exogenous variable change and you must shift the correct curve in the right direction and then determine the new price and quantity.

Type 2: you are given the new price and / or quantity and you must determine what exogenous variable changed to bring about that new price and / or quantity.

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