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Given a downsloping demand curve and an upsloping supply curve for a product, an increase in the price of a substitute good will: Increase the
Given a downsloping demand curve and an upsloping supply curve for a product, an increase in the price of a substitute good will: Increase the quantity demanded, but have no effect on equilibrium price Decrease equilibrium price and quantity Increase equilibrium price and decrease equilibrium quantity Increase equilibrium price and quantity Question 35
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Microeconomics
Authors: Michael Parkin
11th edition
133019942, 978-0133020250, 133020258, 978-0133019940
