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AS Economics - Demand, Supply & Elasticity Flashcards | StudBud
AS Economics - Demand, Supply & Elasticity
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Which one of the following situations would lead to an increase in equilibrium price?
A
Demand is perfectly inelastic and labour costs fall
B
Supply is perfectly elastic & price of a substitute falls
C
Demand is perfectly inelastic and labour costs rise
D
Demand is perfectly elastic and labour costs rise
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