Assume the demand for product A is perfectly inelastic. Further, assume that the buyers of product A
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Assume the demand for product A is perfectly inelastic. Further, assume that the buyers of product A get the funds to pay for it by stealing. (a) If the supply of A decreases, what happens to its price? (b) What happens to the amount of crime committed by buyers of A?
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The price of A rises Since dema...View the full answer
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