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Given that a firm has a turnover of $8000. Suppose that Firm estimates that its Ey-coefficient = 2.4. Suppose economists predict that the level of
Given that a firm has a turnover of $8000.
Suppose that Firm estimates that its Ey-coefficient = 2.4. Suppose economists predict that the level of consumer income willfall by 8% next month. Calculate the change in the quantity demanded (both in percentage and units) for next month, assuming that the Firm sold 8000 units this month.
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