The market for air-conditioning systems is in equilibrium. A long heat wave then causes each demander to
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The market for air-conditioning systems is in equilibrium. A long heat wave then causes each demander to increase the price he or she is willing to pay for an air-conditioning system by $500. Will the price for air-conditioning systems go up $500? What would happen if the supply curve is perfectly flat (horizontal)?
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The price will increase by less than 500 The effect o...View the full answer
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Sandhya Sharma
I hold M.Sc and M.Phil degrees in mathematics from CCS University, India and also have a MS degree in information management from Asian institute of technology, Bangkok, Thailand. I have worked at a international school in Bangkok as a IT teacher. Presently, I am working from home as a online Math/Statistics tutor. I have more than 10 years of online tutoring experience. My students have always excelled in their studies.
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