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g. It is widely publicized that consumption of the good is hazardous to health. h. Cost reducing technological change takes place in the industry. For
g. It is widely publicized that consumption of the good is hazardous to health.
h. Cost reducing technological change takes place in the industry.
For each of the pair of events indicated below, perform qualitative analysis to predict the direction of change in either the equilibrium price or equilibrium quantity. Explain why the change is indeterminate.
a. Both a and h conditions occur simultaneously.
b. Both d and e conditions occur simultaneously.
c. Both d and h conditions occur simultaneously.
d. Both f and c conditions occur simultaneously.
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