According to Figure 3.3, at what price would Tom buy 12 hours of web tutoring? (a) Without

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According to Figure 3.3, at what price would Tom buy 12 hours of web tutoring?

(a) Without a lottery win.

(b) With a lottery win.

$50 Demand shifts when tastes, income, other goods, or expectations change. 45 40 Shift in demand 35 D2: increased 30 de


Quantity Demanded (Hours per Semester) Price (per Hour) Initial Demand After Increase in Income $50 45 2 10 12 40 35 30

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The Macro Economy Today

ISBN: 978-1259291821

14th edition

Authors: Bradley R. Schiller, Karen Gebhardt

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