Microeconomics
Microeconomics
11th Edition
ISBN: 9781260507140
Author: David C. Colander
Publisher: McGraw Hill Education
Question
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Chapter 13, Problem 20QE

(a)

To determine

The impact of decrease in demand on equilibrium price and quantity in the short-run perfect competition.

(b)

To determine

The short-run impact of decline in demand under perfect competition.

(c)

To determine

The long-run impact of declining demand.

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17. Given that C=$700+0.8Y, I=$300, G=$600, what is Y if Y=C+I+G?
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