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Price of inputs used to produce the good increases

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Reference no: EM132009021

If these events occour siimutaneously, the price of a substitute good (in consumption) increases; the price of inputs used to produce the good increases. How can I for each of the pairs of events perform a qualitative analysis to predict the direction of change in either the equilibrium price or the equilibrium quantity? And why is the change in one of these two variables is indeterminate?

Reference no: EM132009021

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