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Unformatted text preview: output of a good are determined by both supply and demand: the two curves are like scissor blades that intersect at equilibrium. While modern economists are trying to understand why the price of a good changes, they still start by looking for factors that may have shifted demand or supply, an approach they owe to Marshall. In the following article, we will explore on the factors that may have shifted demand....
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This note was uploaded on 12/31/2011 for the course ECON 111 taught by Professor Jerryfreek during the Spring '11 term at Ave Maria.
- Spring '11