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Recession Assignment | Homework For You

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December 3rd, 2019

1. Suppose the U.S economy enters a recession and incomes fall.  What will happen to the equilibrium prices and quantities of inferior goods? If price stays the same would that be equilibrium?  Why or why not?

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What will eventually happen in th3 market?   What happened to equilibrium price and quantity? Which quantity is affected and how do you know?  Would your answer be the same if you were discussing normal goods? Explain using supply/demand graphs. Get Economics homework help today

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