We placed great emphasis on the distinction between changes in quantity demanded and quantity supplied and changes

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We placed great emphasis on the distinction between changes in quantity demanded and quantity supplied and changes in demand and supply. Why would an automobile dealership treat buyers’ reactions to price changes differently than it would their reactions to changes in everything else that affects their purchasing decisions? Does that seller have any control over nonprice determinants of demand such as buyer taste? How and why?

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Economics Theory And Practice

ISBN: 9781118949733

11th Edition

Authors: Patrick J. Welch, Gerry F. Welch

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