*9 In problem 7, suppose that a fire destroys some gumproducing factories and the supply of gum...

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*9 In problem 7, suppose that a fire destroys some gumproducing factories and the supply of gum decreases by 40 million packs a week. a Has there been a shift of or a movement along the supply curve of gum? b Has there been a shift of or a movement along the demand curve for gum? c What are the new equilibrium price and equilibrium quantity of gum?

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Economics

ISBN: 9781509540235

6th Edition

Authors: Michael Parkin, Melanie Powell, Kent Matthews

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