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Each of the following scenarios describes a change in market conditions Fill in each blank with the correct answer. Enter ID(for Increase Demand of), lS(for
Each of the following scenarios describes a change in market conditions Fill in each blank with the correct answer. Enter ID(for Increase Demand of), lS(for Increase Supply of), DD(for Decrease Demand of), DS(for Decrease Supply of), or leor not change demand for nor supply of) An increase in the price of gasoline would Write your response here... holiday road trips. An increase in airfares would Write your response here... holiday road trips An increase in price of leather belts would Write your response here... leather belts. Discovery of a new technique for manufacturing computers that greatly lowered their production cost would Discovery that men who shave their heads are less likely to die of heart failure would Write your response here... razors. Hurricanes that damaged orange plantations in Florida would oranges. A decrease in the price of ketchup would ketchup. E]. Fullscreen Expiration of the patent for a particular antibiotic (i.e. producers of generics could enter the market) would Write you r response here... the drug. A trade ban by the US against West African nations where over 60% of the world's cocoa beans are grown would Write you r response here... hot chocolate. If mayonnaise and Miracle Whip are substitutes an increase in the price of mayonnaise would _ Write your response here... Miracle Whip
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