For a product that is not discussed in Chapter 1, find an example where a surplus of a product led.. 1 answer below »

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For a product that is not discussed in Chapter 1, find an example where a surplus of a product led.. 1 answer below »

For a product that is not discussed in Chapter 1, find an example where a surplus of a product led to decreased prices. Then find an example where a shortage led to increased prices. What eventually happened in each case? Why? Is what happened consistent with what economics predicts?

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