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Economics - Financial Markets 7 Online
OpenStudy (anonymous):

A new synthetic compound has been developed by scientists that can be used instead of leather in briefcases, furniture, etc. This compound cannot be used in clothing or shoes since body head melts the compound. Draw a supply and demand diagram and explain how this change affects the market for leather. Be sure to specifically state which curve you shifted and why. Also indicate how equilibrium price and quantity have changed

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