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23. Refer to Scenario 5-4. What would we expect to observe in the caviar market? a. Equilibrium prices and quantities will increase. b. Equilibrium prices

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23. Refer to Scenario 5-4. What would we expect to observe in the caviar market? a. Equilibrium prices and quantities will increase. b. Equilibrium prices will increase by more if the demand for caviar is elastic than if demand is inelastic. c. Total revenues to caviar firms will increase if the demand for caviar is inelastic. d. All of the above are correct

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