Econ Macro (book Only)
6th Edition
ISBN: 9781337408745
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 4, Problem 9P
To determine
The reason behind higher price under market shortage, some consumers paying that higher price and the point till where the firms will stop raising the prices further.
Concept Introduction:
Market shortage: When the supply is less in the market than the
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