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What Will Happen to Prices and Output Levels If There

question 9

Essay

What will happen to prices and output levels if there is an unexpected demand increase and prices are fully flexible?


Definitions:

Government Regulations

Legal rules established by government bodies intended to control and supervise certain activities or behaviors within a society.

Management

The process by which corporate executives, managers, and other leaders direct, control, and organize work tasks and company resources to achieve specific goals.

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