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Business, 21.09.2020 21:01 roorootx

Use supply and demand curves to illustrate how each of the following events would affect the price of butter and the quantity of butter bought and sold. Fully label your diagrams and briefly explain a. An increase in the price of margarine.
b. An increase in the price of milk.
c. A decrease in average income levels. Butter is a normal good.

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