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Step One in the Three-Step Program for Analyzing Changes in Equilibrium

Question 220

Multiple Choice

Step one in the Three-Step program for analyzing changes in equilibrium is as follows:


A) Decide which direction the curve shifts.
B) Decide whether the event shifts the supply or demand curve.
C) Use the supply-and-demand diagram to see how the shift changes the equilibrium.
D) Any of these could be used first.

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