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Answer to Question #87344 in Microeconomics for Jay Mark Golis
Question #87344
how to illustrate a change in demand If there's an increase of interest in toys
Expert's answer
If there's an increase of interest in toys, then the demand for toys will increase, so the demand curve will shift to the right.
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Determine demand and supply function in the long run with elasticity of demand -0.7 and supply 0.25 production is 10 million and price $1162.98
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