1.7. Which of the following events would cause a movement along the demand curve for U.S. produced...

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1.7. Which of the following events would cause a movement along the demand curve for U.S. produced clothing, and which would cause a shift in the demand curve?

a. the removal of quotas on the importation of foreign clothes

b. an increase in the income of U.S. citizens

c. a cut in the industry’s costs of producing domestic clothes that is passed on to the market in the form of lower prices

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Microeconomics

ISBN: 9780132080231

7th Edition

Authors: Robert S. Pindyck, Daniel L. Rubinfeld

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