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If the price of silicon is $24000 per ton, buyers are willing to buy 40 million tons of silicon, The maximum price buyers are willing to pay for 80 million tons of silicon is $1600 per ton. The quantity demanded of silicon will Increase because silicon will only be used in…
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Download file to see previous pages... f price of green bell peppers, a substitute, of red bell peppers decreases, the demand for Red bell peppers will decreases as the demand curve shift towards the left while demand for green peppers shift towards the right (Mishra, Rajan,p.20).
Considering Stella’s value of time, the cost of obtaining a burger is $2.00 and the lowest price she could accept from Robert is $2.00. The willingness of Stella to sell the double stack decreases with the shorter time she waits in ...Download file to see next pagesRead More
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