Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter3: Market Demand And Supply
Section: Chapter Questions
Problem 4SQP
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Question
a) Discuss and explain the effect of a decrease in the price of shoes on the supply of shoes
b) What is a surplus? Define it and discuss how the market can return to equilibrium
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