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ECS1501-25-EX10B
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What happens to the equilibrium price and equilibrium quantity of a good if both the producers and the consumers of that good expect its price to be higher in the future?
Raool is a plumber. He employs two workers and has some capital: a van, some tools and other plumbing equipment. What can be defined as the “long run” for Raool?
Suppose Lerato is purchasing Coke and pretzels in quantities such that she is achieving consumer equilibrium. Then the price of Coke decreases. Lerato will likely ______ her consumption of Coke and the marginal utility of Coke will ______ while the total utility from Coke will _____.
Which of the following would cause a rightward shift of the demand for labour curve?