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1.Why is the direction of change of either price or quantity unknown when both supply and demand shift? 2. Using the concept of income elasticity

1.Why is the direction of change of either price or quantity unknown when both supply and demand shift?

2. Using the concept of income elasticity of demand, describe normal, luxury, and inferior goods

3. Using the concept of cross-price elasticity of demand, describe substitutes and complements.

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