Answer to Question #327728 in Microeconomics for balaka

Question

Question 9

Using the demand and supply curves, explain the effect of the following on the equilibrium, price and quantity

1. Taxation                                                                           
2. A fall in the cost of production                                         

Question 10

1. There are 2 branches of economics that make up economic discussions. With relevant examples, show the difference between these two branches.   
2. In your own perspective, how do you think the 3 economic principles are related?                                                                           (6 Points)

Answer 1

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