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Question 29
For the graph below, what would cause a shift in the equilibrium price and quantity from point 2 to point X?
P
0, 0, 0
a. An increase in the number of suppliers together with an increase in consumers' income.
Ob. An improvement in technology of production together with a decrease in the price of a substitute good.
OC A decrease in the cost of production together with more favorable consumer tastes for the product. Od. An increase in the cost of production together with a decrease in consumers'income.
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Question 29 of 33
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Question 29 of 33