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quiz1_5 - Atlm University Department of Economics Econ...

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Atılım University NAME:____________________ Department of Economics Econ 101.5 / Fall 2006 QUIZ # 1 NO:____________ Section:____ Time: 20 minutes 1. By drawing new curve(s) on the provided graphs, show how the following events affect the equilibrium price (P E ) and quantity of Good X (Q E ). ( 25 p. each ) Events P S a) The income of people who like to use good X decreases AND the price of key input increases at the same time.
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