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a)Explain the effect of the increase of fish meat prices on the equilibrium price and quantity of the chicken meat.(6 points) b)What will happen to
a)Explain the effect of the increase of fish meat prices on the equilibrium price and quantity of the chicken meat.(6 points)
b)What will happen to equilibrium price and quantity of clothes if the wage paid to cloth workers increases?(6 points)
c)Explain the impact of the change in consumer's income on the demand of goods and services.
(6points)
Explain the difference between movement along the demand curve and shifting in the demand curve.
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