1.4. We mentioned that carpet manufacturing looks like a decreasing cost industry. In American homes, carpets are...
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1.4. We mentioned that carpet manufacturing looks like a decreasing cost industry. In American homes, carpets are much less popular than they were in the 1960s and 1970s, when
"wall-to-wall carpeting" was fa hionable in homes. Suppose that carpeting became even le s popular than it is today: What would thi fall in demand probably do to the price of carpet in the long run?
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Related Book For 
Modern Principles Microeconomics
ISBN: 9781429239998
2nd Edition
Authors: Tyler Cowen, Alex Tabarrok
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