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Chapter 7 answers.docx

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Department
Marketing
Course
MKT 100
Professor
Mary Foster
Semester
Winter

Description
71 Prices are economic stop lights They direct buying and selling When prices become sticky The market is less efficient in allocating resourcesWhen demand increases faster than supply increases Price increasesWhat is the consequence of increased general global demand that is only somewhat answered by increased supply General price increasesWhen supply decreases faster than demand decreases Price stays the sameWhen supply increases faster than demand increases Price decreasesIn which of the following continents do prices change more often North AmericaThe longterm solution to the high price of gasoline is Increase the price further through government taxationWhen demand decreases faster than supply decreases Price decreases
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