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ECON MACRO 5th Edition by William McEachern
Edition 5ISBN: 978-1305659094ECON MACRO 5th Edition by William McEachern
Edition 5ISBN: 978-1305659094 Exercise 11
Explain why surpluses push prices down while shortages drive prices up
(Market Shortage) Why would firms raise the price if there is a market shortage, and why would some consumers pay that higher price. At what point would firms stop raising the price?
(Market Shortage) Why would firms raise the price if there is a market shortage, and why would some consumers pay that higher price. At what point would firms stop raising the price?
Explanation
Verified
Verified
Market shortage occurs when quantity dem...
ECON MACRO 5th Edition by William McEachern
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