What happens to the equilibrium prince and quantity in each

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Q. What happens to the equilibrium prince and quantity in each markets when the government reduces the supply ofgoods with elastic demand

Q. Why do so many firms take a reactive approach to exporting rather than aproactive approach?

Q. In most developing countries, there are long lines of taxis at airports, and these taxis often wait two or three hours. What does this tell you about the price in the market? Demonstrate with supply and demand analysis.

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