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Initially supply falls as goods may be destroyed. As the disaster strikes, the demand also rises in anticipation of more supply disruptions as people want to 'stock up' on the good for future bad times. This fall in supply and rise in demand causes price to spiral; this is sometimes referred to as 'exploitation'. In fact, it is a clear illustration of demand and supply concepts.
c. Using two graphs, show consumer surplus before and after government intervention. Be precise. Label the axis and all the lines.
CS=green area
PS= blue area
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To play a certain lottery, a person has to correctly select 6 out of 53 numbers, paying $1 for each six-number selection. If the six numbers picked are the same as the ones drawn
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Factors affecting the life cycle of a product: there are many factors that affect the life cycle of a product. Statement of Joe Dean is very important in this regard. He said, "th
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