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QUESTION
Using demand and supply curves, examine the effects on the equilibrium price and quantity in the following situations: (i) An increase in preference in favour of a particular good. (5 marks) (ii) T
Using demand and supply curves, examine the effects on the equilibrium price and quantity in the
following situations:
(i) An increase in preference in favour of a particular good. (5 marks)
(ii) The discovery of new oil fields. (5 marks)
