Supply and Demand Curve

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Department
Economics for Management Studies
Course
MGEA02H3
Professor
All Professors
Semester
Fall

Description
Demand  and  supply  curve  (From  Fall  2011  Term  Test  1,  question  13-­‐15)     The  market  for  swordfish  is  perfectly  competitive,  and  is  in  equilibrium.    Its  short   run  supply  and  demand  schedules  have  the  usual  shapes.  Swordfish  is  normal  good   and  you  can  safely  ignore  any  effects  of  income  on  the  demand  for  relate  goods.   Lemons  are  a  complementary  good  to  swordfish,  and  salmon  is  a  substitute  good  for   swordfish.  Question  13  through  15  concerns  the  market  for  swordfish  in  the  short   run.  And  each  question  should  be  conside
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