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Business, 12.02.2021 08:50 elizzabel1944

Determine how each of the following events would affect the equilibrium price and quantity in the market for beer. Assume the beer is a normal good, each event is happening in isolation, and nothing else is influencing the market. a. The price of wine, a substitute good for beer, decreases. This will the equilibrium quantity of beer and the equilibrium price of beer.

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