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lectur20-page6 - Price Quantity / unit time S 1 S D P P 1...

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IV. How is price affected when supply curves shift ? An increase in supply while holding demand constant will cause a price decrease. A decrease in supply while holding demand constant will cause a price increase.
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Unformatted text preview: Price Quantity / unit time S 1 S D P P 1 In this case, the increase in supply caused the price to fall 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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