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Assume that there is a technological improvement in the production of solar panels so they can be produced a a lower per unit cost. Meanwhile.
Assume that there is a technological improvement in the production of solar panels so they can be produced a a lower per unit cost. Meanwhile. consumers' preferences for installing solar panels are increasing because of more awareness about a sustainable future. Using demand and supply analysis. predict what will happen for the Australian solar panel market as a result of these changes. ceteris paribus, by answering the questions below. Suggestion: it might be helpful to rstly sketch a diagram on a hit of paper before typing your response. a. What will happen to the supmy game for this market? lie. will it shift left or right?) b. What will happen to the demand curve for this market? (i.e. will it shift left or right?) c. Based on your responses above, the nal equilibrium price will be: (type either: lower. higher, or ambiguous) d. Based on your responses above, the nal equilibrium quantity; will be: (type either: lower, higher, or ambiguous)
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