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EC 203 (2)
Final

Exam prep 2.pdf

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Department
Economics (EC)
Course
EC 203
Professor
nejemraheem
Semester
Spring

Description
Price elasticity of demand Endog exogenous,movements of the curve Equilibrium QD vs D? Supply curve--quantity procedures are willing to provide at a certain prices Higher the price,the more suppliers will supply.Curve can be seen as marginal cost. As the price goes up,you can make more because the money you're making now covers the increasing marginal costs. Change in quantity supplied--movement along the line,when price of the good is changed,endogenous Supply increases to the right Equilibrium--a situation of rest when the are no forces that create change MB=MC Market cle
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