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Identify the flaw in this analysis: "If more Americans go on a low-carb diet, the demand for bread will fall. The decrease in the demand for bread will cause the price of bread to fall. The lower price, however, will then increase the demand. In the new equilibrium, Americans might end up consuming more bread than they did initially."

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M954355

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