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Unformatted text preview: 1) Deadweight Loss - DWL 1 4. Supply and demand in action a. A decrease in the price of a complement 1) 2) 3) 4) b. A decrease in the price of a substitute 1) 2) 3) 4) c. An increase in the price of a complement d. An increase in the price of a substitute e. An increase in income for a normal good f. An increase in income for an inferior good g. Simultaneous changes in supply and demand 1) Increases in both 2) Decrease in both 3) Increase in demand and decrease in supply 2 4) Decrease in demand and increase in supply 5. Estill Bodega the Snicker effect - see handout save group number and exercise for 3/16/10, week 8 3...
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This note was uploaded on 09/08/2010 for the course ECON 1B at San Jose State University .
- Supply And Demand