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Canada (509,737)
Economics (1,617)
ECON 1BB3 (535)
Lecture 5

Economics Lecture 5.docx

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Department
Economics
Course
ECON 1BB3
Professor
Bridget O' Shaughnessy
Semester
Fall

Description
Economics Lecture 5 Market demand: the sum of individual demands Shifts in demand (change in demand) are caused by a change in anything other than price Movement along the demand curve (change in quantity demanded) is caused by the change in price  If demand increases demand shifts out  If demand decreases the curve shifts in What happens to walmarts pries if they unionize  Prices go up as they have to pay workers more Quantity supplied (Qs): The amount of a good that sellers are able and willing t
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