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Author Question: Using a graph, illustrate the effect that an increase in production costs will have on the ... (Read 62 times)

plus1

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on: Jun 30, 2018
Using a graph, illustrate the effect that an increase in production costs will have on the equilibrium price and quantity of a good.
 
  What will be an ideal response?

Question 2

The nominal interest rate is determined in the
 
  A) bond market. B) stock market. C) exchange market. D) money market.
Macroeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 7th Edition
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jlaineee

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Reply #1 on: Jun 30, 2018
Answer to Question 1

The graph shows a decrease in supply. The supply curve shifts to the left, causing equilibrium price to rise, and equilibrium quantity to fall.

Answer to Question 2

D


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