Homework #2

# Homework #2 - lower and therefore it would be willing to...

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Economics 101-01 Fall 2011 Homework #2 Evelyn Tavares 1- b- On Graph c- The demand curve would shift to the left because consumers would be less willing to buy Nike’s product when the competing product now costs less. d-

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The Supply curve would shift to the right because Nike’s production costs would be
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Unformatted text preview: lower and therefore it would be willing to produce more products for any given price. e- 100 = Shortage of 600 120 = Shortage of 300 140 = Equilibrium 160 = Surplus of 300 180 = Surplus of 600 g- At the price of \$100,00 200 items would be sold....
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Homework #2 - lower and therefore it would be willing to...

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