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11. Adecrease in demand, with no change in supply, will lead to ............. in equilibrium quantity and..............in equilibrium price. 12. If Qd = 300 -50

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11. Adecrease in demand, with no change in supply, will lead to ............. in equilibrium quantity and..............in equilibrium price. 12. If Qd = 300 -50 P and Qs = -100 + 150 P, the equilibrium price is ........and the equilibrium quantity is . . ....... 13. The flatter the supply curve, the......... ....it is. However, the flatter the demand curve, the..... ..it is. 14. If the type of demand elasticity is............, the TR will not change, while if it is ............the total revenue will .............if the quantity demanded decreases. 15. .. ....and .......... are considered as factors of production that can't be changed in the short-run. 16. If Toyota is the sole seller of the car gears, then he is called a ............. 17. The special kind of imperfectly competitive market that has only two firms is called............. 18. The Latin term "ceteris paribus" means... 19. Total variable costs change in proportion to changes in........, while the fixed cost ....... 20. In a perfect competitive market, there are.........number of producers who have .........control over the price and sell .... ... products. 21. If the price of a substitute to good X increases, then the demand for good X will........ 22. . ......and . ........ are two main factors that lead to shifting the supply curve to the right

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