ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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options for first blank: a decrease or an increase

options for second blank: supply or demand

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3. Smith, Ricardo, and Marshall
Suppose that fashion changed in favor of shorter hats, resulting in a decrease in the quantity of top hats bought and sold.
Economists today would describe this scenario as
David Ricardo
Which of the following economists would predict that the price of a top hat would stay the same? Check all that apply.
Alfred Marshall
in
Adam Smith
for top hats.
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Transcribed Image Text:3. Smith, Ricardo, and Marshall Suppose that fashion changed in favor of shorter hats, resulting in a decrease in the quantity of top hats bought and sold. Economists today would describe this scenario as David Ricardo Which of the following economists would predict that the price of a top hat would stay the same? Check all that apply. Alfred Marshall in Adam Smith for top hats.
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