Macroeconomics 202

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Figure 4.6 illustrates a set of supply and demand curves for a product. When the economy moves from point C to point E, there has been:


Figure 4.5 illustrates the supply of guitars. An increase in the price of rosewood, which is used to make guitars, would most likely cause a movement from:


Figure 4.3 illustrates the supply and demand for blue jeans. If the actual price of blue jeans is $50, there is:


Refer to Figure 4.1 that shows Mary and Tom’s individual demand curves for meals per week at Fratelli’s Italian Restaurant. Assuming Mary and Tom are the only consumers in the market, if the market quantity demanded is 3 the price must be:

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