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Identify the condition of demand or supply

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1. Match the scenario below with the correct graph and identify the condition (determinant) of demand or supply that changes. Assume ceteris paribus.

(i) Market for Cigarettes. The government increases excise tax on tobacco by additional 12.5%.

(ii) Market for I-tunes music. Tough new anti-pirating legislation is introduced that works to reduce the incidence of file sharing and 'illegal' downloading of music.

(iii) Market for Butter. The price of margarine falls.

Reference no: EM133064236

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