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PRINCIPLES OF MICROECONOMICS FINAL EXAM | COMPLETE ACCURATE QUIZZES WITH VERIFIED ANSWERS | 2026 | 2027. Quiz_________________? 1. Availability of close subsititues - Answer no close substitutes: inelastic demand close substitutes: elastic demand Quiz_________________? 1. consumers substitute toward the newly less-expensive good 2. consumer have more purchasing power, which is like an increase in income - Answer When the price of a good falls, two effects take place...

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