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If new substitutes are developed for a product, what will likely happen to the demand curve for that product? (2 points)

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter6: Demand And Elasticity

Section: Chapter Questions

Problem 4TY

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If new substitutes are developed for a product, what will likely happen to the demand curve for that product? (2 points)

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