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Problem: Assume there is a shift in supply and demand for a product where there is a large decrease in demand and supply stays unchanged.
Problem: Assume there is a shift in supply and demand for a product where there is a large decrease in demand and supply stays unchanged. Note: Indicate whether Quantity and Price increases, decreases or is indeterminate (stays unchanged). What happens to each of the following? Price: ? Quantity: ? Use the worksheet to solve this problem then selecl your answer from one the four choice below, Quantity 0 Price increases and Quantity increases 0 Price increases and Quantity decreases 0 Price decreases and Quantity decreases 0 Price decreases and Quantity increases
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