The supply curve in Figure 3P-2 shows the monthly market for sweaters at a local craft market.

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The supply curve in Figure 3P-2 shows the monthly market for sweaters at a local craft market. For each of the following events, draw the new out-come.
a. The price of wool increases.
b. Demand for sweaters decreases.
c. A particularly cold winter is expected to begin next month.
d. Demand for sweaters increases.
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Microeconomics

ISBN: 978-1259163531

1st edition

Authors: Dean Karlan, Jonathan Morduch

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