Question
Scenerio: There is a market for shoes (which is a component of clothing). Labor costs for clothing manufactures increase, so demand for shoes also decreases.
Scenerio: There is a market for shoes (which is a component of clothing). Labor costs for clothing manufactures increase, so demand for shoes also decreases. What happens to price and quantity demanded. Express this scenerio in a graph.
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Modern Principles of Economics
Authors: Tyler Cowen, Alex Tabarrok
3rd edition
1429278390, 978-1429278416, 1429278412, 978-1429278393
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