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III. Price change and demand a . At the beginning, the price of Q 1 is P 1 - $ 9 . What's the consumer's
III. Price change and demand
a At the beginning, the price of Q is $ What's the consumer's income? What is P Hint: The Q intercept is how many Q the consumer can afford when they spend all the money on Q The same for the Q intercept.
b P decreased twice, what are the two new prices?
c Use the information above to put three points on the demand curve for Q Connect the three points to get a demand curve.
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