In a market buyers want to pay the lowest possible

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In a market, buyers want to pay the lowest possible price and sellers want to charge the highest possible price. Who determines the price and quantity traded in a market?
If product Y is an inferior good, a decrease in consumer incomes will shift the demand curve for product Y to the right . When the price of a product increases, consumers shift their purchases to other products whose prices are not relatively lower. The statement describes the substitution effect Imagine the that the market supply of peaches comes from Georgia (GA) and South Carolina (SC). The supply schedule below shows the quantity of peaches supplied in each state at each price. a. In the table, complete the column labels “Market.” b. How many pounds of peaches will be supplied to the market when the price is $6 per pound? .
Which of the following scenarios would likely shift the supply of cars to the left (decrease in supply)?

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