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asked 6 months ago
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1) income, (2) tastes and preferences, (3) the price of related goods, (4) changes in expectations of future relative prices, and (5) population (I.e., market size). The major non-price determinants of supply are: (1) input costs, (2) technology, (3) taxes and subsidies, (4) expectations of future relative prices, and (5) the number of firms in the industry.
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answered 4 months ago
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