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Determine if demand for or supply of Charmin toilet paper (a normal good) would change and if it wouldincrease or decrease in each of the
Determine if demand for or supply of Charmin toilet paper (a normal good) would change and if it wouldincrease or decrease in each of the following examples. For each answer, it must have which curve shifts andhow it shifts:
- Consumers expect the price of toilet paper to increase in the future.
- The price of Bounty paper towels (substitutes in production) increases.
- Technologyimprovesthe production of toilet paper.
- Population increases
- Income decreases
- There is an increase in the price of softwood (an input used to produce toilet paper).
- The price of Cottonelle toilet paper (a substitute in consumption)decrease
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