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Questions #1 outlined a shift demand curve and the resulting impact on the equilibrium quantity and price in the market (comparative statics analysis). Briefly describe
Questions #1 outlined a shift demand curve and the resulting impact on the equilibrium quantity and price in the market (comparative statics analysis).
- Briefly describe a different theoretical "shift" parameter associated with the demand side of a commodity fish market.
- What will be the impact on the equilibrium quantity and price in the market because of the shift you have described?
- Can we say with certainty that there will be a net change in the quantity of product exchanged? Why or why not?
***Number 1 graph attached
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