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In each of the following situations, list what will happen to the equilibrium price and the equilibrium quantity for a particular product, which is an inferior good.
a. The population increases and productivity increases.
b. The income increases and the price of inputs decrease.
c. The number of firms in the market decreases and income increases.
d. Consumer preference increases and the price of a complement decreases.
e. The price of a substitute in consumption decreases and the price of a substitute in production decreases.
Executor or Executrix
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Died Intestate
Refers to a person who has passed away without having made a legally valid will.
Dies Intestate
Refers to a situation where a person passes away without having made a valid will, leading to the distribution of their assets according to state laws.
Typical Statute
A law established by a governing body that is common or expected within a particular legal framework.
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