The initial market demand curve for coal in the world

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The world market demand for coal exemplifies a typical demand relationship. On your answer sheet, draw a graph of the initial market demand curve for coal in the world.

Assuming coal is a(n) normal good, a(n) increase in preferences (and tastes) for the good leads to (increase, decrease, no change) in demand for coal in the world. Now, on the same graph (from above), show the effect of this increase in the preferences (and tastes) for the good.

Reference no: EM131241454

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