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lectur20-page5 - Price D 1 D P 1 P Quantity / unit time In...

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III. How is price affected when demand curves shift? An increase in demand while holding supply constant will cause a price increase. A decrease in demand while holding supply constant will cause a price decrease.
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Unformatted text preview: Price D 1 D P 1 P Quantity / unit time In this case, the increase in demand caused price to rise from P to P 1 ....
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This note was uploaded on 12/29/2011 for the course ECO 210 taught by Professor Malls during the Fall '10 term at SUNY Stony Brook.

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