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Unformatted text preview: Changes in supply and demand can be negative, 0, or positive. 2. Do questions 1-7 on the elas98 Excel file. Hints: percentage changes must be multiplied by 100. 3. Do questions 3, 4, 9, 11, 14 and 17 in the csps98 Excel file. Hints: You can find the demand and supply intercepts by setting market demand equal to 0. What consumers pay and producers receive (receipts) is found by multiplying price and quantity. If prevailing price is below the equilibrium level, then combined consumer and producer surplus may be more than two triangles....
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This note was uploaded on 04/03/2011 for the course ECO 2252 taught by Professor Edward during the Spring '08 term at Troy.
- Spring '08