Exploring Macroeconomics
Exploring Macroeconomics
7th Edition
ISBN: 9781285859446
Author: Sexton, Robert L.
Publisher: Cengage Learning
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Chapter 4, Problem 23P
To determine

The forces that bring the equilibrium price and quantity back, if the price is above equilibrium price also explain the forces that bring the equilibrium price and quantity back when the price is below equilibrium price.

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Suppose there is a new preventative treatment for a common disease. If you take the preventative treatment, it reduces the average amount of time you spend sick by 10%. The optimal combination of Z (home goods) and H (health goods). both may increase both may increase or one may stay the same while the other increases. both may decrease H may increase; Z may not change Z may increase; H may decrease
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