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

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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 streaming video rental at Amazon, goes up.

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Principles Of Macroeconomics

ISBN: 9781324034001

4th Edition

Authors: Dirk Mateer, Lee Coppock

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