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To fill: The blank with suitable option.
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Answer to Problem 3AA
Option (g) − Distinct.
Explanation of Solution
Retailers in the market try to make their stores distinct from each other so that more customers can get attracted to it and visit the store. There prevails huge competition in the market among the sellers or the retailers because of which they try to keep their stores easily visible & different from other stores which help them in gaining more profits through maximizing their sales.
No other option fits in as retailers try to keep their stores different from other stores so that more customers can pay a visit & the best option fits here is ‘distinct’.
Chapter 8 Solutions
Economics Today and Tomorrow, Student Edition
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- (d) Calculate the total change in qı. Total change: 007 (sp) S to vlijnsi (e) B₁ is our original budget constraint and B2 is our new budget constraint after the price of good 1 (p1) increased. Decompose the change in qı (that occurred from the increase in p₁) into the income and substitution effects. It is okay to estimate as needed via visual inspection. Add any necessary information to the graph to support your 03 answer. Substitution Effect: Income Effect:arrow_forwardeverything is in image (8 and 10) there are two images each separate questionsarrow_forwardeverything is in the picture (13) the first blank has the options (an equilibrium or a surplus) the second blank has the options (a surplus or a shortage)arrow_forward
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