Explain how the market demand curve for a ‘normal’ good will shift (i.e. left, right or no shift) in each of the following cases? What then will happen to the equilibrium price and quantity? (a) The price of a substitute good rises Click or tap here to enter text. (b) The price of a complementary good falls Click or tap here to enter text. (c) The price of the good increases Click or tap here to enter text. (d) Tastes shift away from the good Click or tap here to enter text. (e) Personal income increases   with diagrams please

Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
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Explain how the market demand curve for a ‘normal’ good will shift (i.e. left, right or no
shift) in each of the following cases? What then will happen to the equilibrium price and
quantity?
(a) The price of a substitute good rises
Click or tap here to enter text.
(b) The price of a complementary good falls
Click or tap here to enter text.
(c) The price of the good increases
Click or tap here to enter text.
(d) Tastes shift away from the good
Click or tap here to enter text.
(e) Personal income increases

 

with diagrams please 

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