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Market Reason for Change Diagram Surplus or Change in Demand Curve Supply Curve Change in
Change Shortage Price Quantity
Increased Successful advertising/change in Market Increase Shift right No shift Increase
Demand fashion shortage Move up
Increase in income (normal good)
Decrease in income (inferior good)
Seasonal change
Increased population

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Decrease Increase cost of production (higher Market Increase No shift Shift left Decrease
d Supply wages) shortage Move up
Exhaustion of raw materials
Increased indirect taxation
Reduced subsidies
Reduced supply of a good in joint
Increased demand for a good with
composite demand


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