Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Explanation all subparts correctly and details

Transcribed Image Text::Shortage occurs when the quantity supplied.
a. is less than the quantity demanded
b. equals the quantuty demanded
c. equals the quantity supplied
Suppose thes cases, indicae what is the type of demand with
brief explanation:
percentage
change in
quantuty
demanded
percentage
change in
price
demand
change by change by
10%
20%
change by change by
40%
40%
change by change by
10%
20%
change by
change by
very large
0%
percentage
remains
constant
change in
percentage
of price
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