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Exhibit 3-2 Price D2 Ouantity Good X Refer to Exhibit 3-2. Suppose equilibrium is at point A. Something then changes and equilibrium becomes point C. Which of the followi the change in equilibrium from point A to C (assuming that good X is a normal good)? O a. There was an increase in the number of buyers and business taxes decreased. O b. There was an increase in the number of buyers and business taxes increased. O c. There was a decrease in the number of buyers and business taxes decreased. d. There was a decrease in the number of buyers and business taxes increased.

Exhibit 3-2 Price D2 Ouantity Good X Refer to Exhibit 3-2. Suppose equilibrium is at point A. Something then changes and equilibrium becomes point C. Which of the followi the change in equilibrium from point A to C (assuming that good X is a normal good)? O a. There was an increase in the number of buyers and business taxes decreased. O b. There was an increase in the number of buyers and business taxes increased. O c. There was a decrease in the number of buyers and business taxes decreased. d. There was a decrease in the number of buyers and business taxes increased.

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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Exhibit 3-2 Price S1 02 Ouantity Good X Refer to Exhibit 3-2. Suppose equilibrium is at point A. Something then changes and equilibrium becomes point C. Which of the following is consistent with the change in equilibrium from point A to C (assuming that good X is a normal good)? O a. There was an increase in the number of buyers and business taxes decreased. b. There was an increase in the number of buyers and business taxes increased. O c. There was a decrease in the number of buyers and business taxes decreased. O d. There was a decrease in the number of buyers and business taxes increased.
Transcribed Image Text:Exhibit 3-2 Price S1 02 Ouantity Good X Refer to Exhibit 3-2. Suppose equilibrium is at point A. Something then changes and equilibrium becomes point C. Which of the following is consistent with the change in equilibrium from point A to C (assuming that good X is a normal good)? O a. There was an increase in the number of buyers and business taxes decreased. b. There was an increase in the number of buyers and business taxes increased. O c. There was a decrease in the number of buyers and business taxes decreased. O d. There was a decrease in the number of buyers and business taxes increased.
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