. If the supply of pencils, a substitute for pens, decreases, what will happen to the: (a) Equilibrium price of pencils? b) Equilibrium price of pens?
. If the supply of pencils, a substitute for pens, decreases, what will happen to the: (a) Equilibrium price of pencils? b) Equilibrium price of pens?
Chapter5: Markets In Motion And Price Controls
Section: Chapter Questions
Problem 5P
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Q. 1. If the supply of pencils, a substitute for pens, decreases, what will happen to the:
(a) Equilibrium price of pencils?
b) Equilibrium price of pens?
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