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For Each of the Four Scenarios Below, Explain Which Way

Question 103

Essay

For each of the four scenarios below, explain which way the demand curve shifts and why.
Scenario 1: In the market for automobiles, a credible forecast is released which says that prices will rise in the near future.
Scenario 2: Many young people leave a small town to look for jobs in the capital city. What happens to the demand for college education in the small town?
Scenario 3: There is news of an

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