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Unformatted text preview: P Q E E 1 Supply Supply 1 Figure 3-4 Price P $10 $5 Quantity Q S S D D Given the supply and demand curves drawn in the figure below, an increase in income can be expected to increase both market clearing price and quantity. Quantity of Q Q* P r i c e o f Q P* Supply Demand...
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This document was uploaded on 10/28/2011 for the course 220 103 at Rutgers.
- Spring '09