3. For each of the following scenarios, determine if there is an increase or a decrease in...

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3. For each of the following scenarios, determine if there is an increase or a decrease in supply for the good in italics.

a. The price of silver increases.

b. Growers of tomatoes experience an unusually good growing season.

c. New medical evidence reports that consumption of organic products reduces the incidence of cancer.

d. The wages of low-skilled workers, a resource used to help produce clothing, increase.

e. The price of movie tickets, a substitute for Netflix video rentals, goes up.

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Principles Of Microeconomics

ISBN: 9780393679199

3rd Edition

Authors: Dirk Mateer, Lee Coppock

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