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Consider a particular service-your choice. Use supply and demand diagram to illustrate each effect on a graph. A. The service becomes more fashionable. B. There is a decrease in the price of an essential input used in production of the service. C. Government enacts a price floor above the equilibrium price. Will this policy result in a shortage, surplus or neither? don't use chatgpt answer

Consider a particular service-your choice. Use supply and demand diagram to illustrate each effect on a graph. A. The service becomes more fashionable. B. There is a decrease in the price of an essential input used in production of the service. C. Government enacts a price floor above the equilibrium price. Will this policy result in a shortage, surplus or neither? don't use chatgpt answer

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Consider a particular service-your choice. Use supply and demand diagram to illustrate each effect on a graph. A. The service becomes more fashionable. B. There is a decrease in the price of an essential input used in production of the service. C. Government enacts a price floor above the equilibrium price. Will this policy result in a shortage, surplus or neither? don't use chatgpt answer
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