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Unformatted text preview: that could have been produced instead.- supply of a good is not affected by changes in demand for it.- to get someone to supply you with a good, OUTBID others who value other uses of the resources.-if you want someone to buy, make them believe it is their best alternative . *when referring to example problems dealing with stock, reserve demand, and quantity supplied. ... make sure you state it is the person’s QUANTITY reserve demanded, not just reserve demand. EXAMPLE GRAPHS: modest increase in demand when the price of an important for a good. input to create a good calls. (NO CHANGE in supply) (INCREASE in supply) when the sale of a good is made illegal. (DECREASE in supply)...
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This note was uploaded on 04/18/2008 for the course ECON 201 taught by Professor Egger during the Fall '06 term at Towson.
- Fall '06