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For each scenario listed below, describe what effect each of the following will have on the demand for product B? a.Product B becomes more fashionable.
For each scenario listed below, describe what effect each of the following will have on the demand for product B?
a.Product B becomes more fashionable.
b.The price of substitute product C falls.
c.Income declines and product B is an inferior good
d.Consumers anticipate the price of B will be lower in the near future.
e.The price of complementary product D falls.
f.Foreign tariff barriers on B are eliminated.
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