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D. Longer and more occurrences of strong typhoons affected the country's major agriculture crops E. Population increases affecting the market for automobiles

D. Longer and more occurrences of strong typhoons affected the country's major agriculture crops E. Population increases affecting the market for automobiles

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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5. Illustrate in appropriate diagram (change in demand or change in supply) the impact on the good or service of the following events: A. Nominal income of consumers rise and potatoes are considered inferior goods B. Buyers of gold expect that the price of gold will decrease in the near future C. Producers of gold expect that the price of gold will rise in the near future D. Longer and more occurrences of strong typhoons affected the country's major agriculture crops E. Population increases affecting the market for automobiles
Transcribed Image Text:5. Illustrate in appropriate diagram (change in demand or change in supply) the impact on the good or service of the following events: A. Nominal income of consumers rise and potatoes are considered inferior goods B. Buyers of gold expect that the price of gold will decrease in the near future C. Producers of gold expect that the price of gold will rise in the near future D. Longer and more occurrences of strong typhoons affected the country's major agriculture crops E. Population increases affecting the market for automobiles
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