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Given a positively sloped supply curve, a rise in the demand for that commodity causes

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Given a positively sloped supply curve, a rise in the demand for that commodity causes

Given a positively sloped supply curve, a rise in the demand for that commodity causes

▸ a decrease in the equilibrium price and an increase in the equilibrium quantity exchanged.

▸ an increase in both the equilibrium price and the equilibrium quantity exchanged.

▸ a decrease in both the equilibrium price and the equilibrium quantity exchanged.

▸ a shortage of other goods.

▸ a fall in sales of that commodity.

Textbook

Microeconomics

Edition: 17^th

Author: Ragan

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Smart ... Thanks!

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