How consumption influence the equilibrium price
How does rise in price of a substitute good in consumption influence the equilibrium price?
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Answer: With the increase in price of the substitute good, the equilibrium price of concerned good will rise owing to shift in demand curve to the right.
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A monopoly might emerge naturally while economies of scale: (w) are small relative to market demand. (x) do not exist. (y) are large relative to market demand for output. (z) and average costs are rising over the market output range. Discover Q & A Leading Solution Library Avail More Than 1415010 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1952729 Asked 3,689 Active Tutors 1415010 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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