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Other things being equal, when the price of an automobile falls, people buy more of that automobile. Is this an increase in Demand? Why or
- Other things being equal, when the price of an automobile falls, people buy
more of that automobile. Is this an increase in Demand? Why or why not?
- A) Because of Covid-19, the number of suppliers of an educational learning tool
has decreased. How does this affect the supply of that good?
B) If your company is one of those educational learning tool suppliers who is still in business
and one of your component suppliers is raising prices significantly in July of 2021, how
will this affect your supply before July?
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