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1. Consider the market for economic textbooks (hardcover). For each of the events listed here, identify which of the determinants of supply and demand are
1. Consider the market for economic textbooks (hardcover). For each of the events listed here, identify which of the determinants of supply and demand are affected. Also draw a supply and demand graph indicating whether sup- ply or demand increases or decreases or does not move. Then, on the graph you drew, show the effect on the price and quantity of hardcover economic textbooks. a. Enrollment in the economics program rises. (3 points) b. Printing technology is automated. (3 points) c. Khan academy increases the number of economic instruction videos on their website. (3 points) d. The price of chemistry textbooks drops. (3 points) e. There is a sale in paperback economic textbooks and the price of ink increases. (3 points)
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