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A cell phone is a normal good. If income is expected to increase next year, you predict that the demand for cell phones will what now?
Business Economics, Economics
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First two questions, Demand: Q d = 175-.5*P Supply:Q S = 1.923*P - 163.462 There is a $50 unit tax on the supplier side. what is the new equilibrium price? I know the new price is 179, looking for the formula explainin ...
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