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Consider the market for the confectionery "Mars Bars". Analyse the following situations and clearly state the affect on both the equilibrium price and equilibrium quantity. Examine each situation separately. Use a diagram for each a)"Snickers" a substitute drops the price by 20% b)average incomes in Australia increase by 20% c)cost saving robot technology introduced into confectionery industry d)"Mars Bars" drop their price by 15%   Question 2   Suppose the price el ...

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Tags: Australia Footscray Economics Economics Economics Victoria University Economics-SCU82 


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