2. In a general equilibrium analysis with two substitute goods, X and Y, explain what would happen...

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2. In a general equilibrium analysis with two substitute goods, X and Y, explain what would happen to the price in market X if the supply of good Y increased (i.e., if the supply curve for good Y shifted to the right).

How would your answer differ if X and Y were complements?

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Microeconomics

ISBN: 9780470563588

4th Edition

Authors: David Besanko, Ronald Braeutigam

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Question Posted: Oct 15, 2024 05:03 AM

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2. In a general equilibrium analysis with two substitute goods, X and Y, explain what would happen...

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Microeconomics

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