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1. What happens in a market when the price of a good decreases? a. Demand & Quantity demanded decrease b. Demand & Quantity demanded increases

1. What happens in a market when the price of a good decreases?

a. Demand & Quantity demanded decrease

b. Demand & Quantity demanded increases

c. Demand Increases

e. Quantity demanded increases

2. The demand equation for widgets is Qxd= 500 -1/2Px+ 2Py + 0.0005M +0.001A. What type of good is good X?

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