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What is a complementary product? Provide an example. What will happen to the demand of a product if the price of its complementary product increases?
What is a complementary product? Provide an example. What will happen to the demand of a product if the price of its complementary product increases? Explain. What are the factors of production? Briefly explain each. Graphically illustrate a market shortage and a market surplus. In an attempt to decrease the use of illegal drugs, or the use of harmful legal substances, such as tobacco, governments can use two basic options: decrease demand through public education or decrease supply through legal restrictions or taxes. What is the result on price as seen by consumers for each policy? Which of these two types of policies is likely to have more long-term success? Why
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