Illustrate what is the effect on the market for an hour

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Q. The small town of Middling experiences a sudden doubling of the birth rate. After three years, the birth rate returns to normal. Use the graphs for each question, adding any arrows or other indicators that you feel are necessary, to illustrate the effect of these events on the following.

Illustrate what is the effect on the market for an hour of babysitting services in middling today, during this increased birth rate? Explain the change, if any in the price of babysitting and in both the amount of babysitting demanded and supplied, giving your reasons for these changes.

Reference no: EM13102175

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Illustrate what is the effect on the market for an hour : Illustrate what is the effect on the market for an hour of babysitting services in middling today, during this increased birth rate? Explain the change.

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