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The document provides instructions for Homework 2, which involves analyzing the market for hot chocolate. Students are asked to graphically illustrate the impact of changes in factors like the weather, prices of substitutes and complements, costs of inputs, and consumer income on the demand and supply of hot chocolate. They must also explain how these changes would affect the equilibrium price and quantity. The homework further involves calculating the price elasticity of demand between two points on a dema

Author

amelie romain

Language

EN