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16Use a diagram to illustrate how each of the following events affects the equilibrium price and quantity of pizza. The price of mozzarella cheese rises.
16Use a diagram to illustrate how each of the following events affects the equilibrium price and quantity of pizza.
- The price of mozzarella cheese rises.
- The health hazards of hamburgers are widely publicized.
- The price of tomato sauce falls.
- The incomes of consumers rise, and pizza is an inferior good.
- Consumers expect the price of pizza to fall next week.
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