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For each of the following indicate whether there is a shift of the demand curve or a movement along the demand curve. Hint: make sure
For each of the following indicate whether there is a shift of the demand curve or a movement along the demand curve. Hint: make sure that you remember that the market is US Lumber and also how changes in supply are captured by demand curves
Only a word is required for each answer.
A) The market is US Lumber. Canadian Lumber decreases in price.
B)The market is US Lumber. Forest fires destroy 50% of the US Lumber stock.
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