Question
1. One of your friends owns a pizza place, knows that you've read chapter 4 about demand and supply, and so wants your advice. S/he
1. One of your friends owns a pizza place, knows that you've read chapter 4 about demand and supply, and so wants your advice. S/he wants to increase the demand for her/his pizza. Do you recommend that s/he reduces the price of the complementary goods s/he sells (soda bottles) or reduces the price of the pizza?
2. Are scarcity and shortage same? Explain.
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Economics Principles and Policy
Authors: William Baumol, Alan Blinder
13th edition
1305280595, 1305280598, 9781305465626 , 978-1305280595
