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Micro- Quiz 2

Microeconomics Quiz 2- Chapter 3

QuestionAnswer
If the price of a product decreases, we would expect: Quantity supplied to decrease
If products C and D are close substitutes, an increase in the price of C will: Shift the demand curve of D to the right
Which would have no effect on the demand for motorcycles? A change in the cost of steel
What combination of changes would most likely increase the equilibrium price? When supply decreases and demand increases
Created by: joebouhadana
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