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For each of the four scenarios below, explain which way the demand curve shifts and why. Scenario 1: A credible forecast that says that automobile
For each of the four scenarios below, explain which way the demand curve shifts and why. Scenario 1: A credible forecast that says that automobile prices will rise in the near future is released. Scenario 2: Many young people leave their small town to seek jobs in the capital city. What happens to the demand for college education in the small town? Scenario 3: There is news of an E. coli outbreak caused by contaminated lettuce
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