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Describe the changes in price and quantity

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Reference no: EM131580497

Question: Think about the market for basketballs. In each of the following cases, determine which curve will shift and in which direction. Also draw a graph and describe, in words, the changes in price and quantity. (Treat each case separately.)

a. A rise in consumers' incomes

b. An increase in wages paid to the workers who make the basketballs

c. A decrease in the price of basketball hoops and other basketball gear

d. The country's becoming obsessed with soccer

Reference no: EM131580497

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