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Describe an instance where a change in price moved

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Economics Assignment

1. Describe an instance where a change in price moved you along your demand curve for a product.

a. What was the product?
b. Did the price of the product increase or decrease?
c. Did your quantity demanded increase or decrease? Why?

2. Describe an instance where a change in the price of a substitute changed your demand for a product.

a. What was the product?
b. What was the substitute good?
c. Did the price of the substitute increase or decrease?
d. Did your demand for the product increase or decrease? Why?

3. Describe an instance where a change in the price of a complement changed your demand for a product.

a. What was the product?
b. What was the complementary good?
c. Did the price of the complement increase or decrease?
d. Did your demand for the product increase or decrease? Why?

Reference no: EM131075449

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