=+new technology makes cement cheaper to produce, the supply curve for the Mexican cement industry becomes relatively

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=+new technology makes cement cheaper to produce, the supply curve for the Mexican cement industry becomes relatively flatter.

c. Some goods that were once considered luxuries, like a telephone, are now considered virtual necessities. As a result, the demand curve for telephone services has become steeper over time.

d. Consumers in a less developed country like

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Economics

ISBN: 9781319066604

5th Edition

Authors: Robin Krugman, Paul Wells

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