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With respect to each of the following changes, identify whether the demand curve will shift rightward or leftward: 1. An increase in income (the good
With respect to each of the following changes, identify whether the demand curve will shift rightward or leftward: 1. An increase in income (the good under consideration is a normal good) 2. A rise in the price of a substitute good (caused by a decline in supply) 3. A rise in expected future price d. A fall in the number of buyers
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