With the aid of a diagram, show the effect of the following changes on the equilibrium price, quantity and equilibrium point. Market for housing: increase in the number of marriages and increase in the price of construction materials. Market for beer: Government imposes a sales tax on beer. Market for maize: Increase in the number of maize farmers and increase in consumer taste for maize
With the aid of a diagram, show the effect of the following changes on the equilibrium price, quantity and equilibrium point. Market for housing: increase in the number of marriages and increase in the price of construction materials. Market for beer: Government imposes a sales tax on beer. Market for maize: Increase in the number of maize farmers and increase in consumer taste for maize
Chapter4: Supply And Demand: An Initial Look
Section: Chapter Questions
Problem 2TY
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With the aid of a diagram, show the effect of the following changes on the
- Market for housing: increase in the number of marriages and increase in the price of construction materials.
- Market for beer: Government imposes a sales tax on beer.
- Market for maize: Increase in the number of maize farmers and increase in consumer taste for maize
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