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Assume a market for cheese puffs with many buyers and sellers with an upward-sloping supply and downward-sloping demand. Where the demand and supply curves meet,
Assume a market for cheese puffs with many buyers and sellers with an upward-sloping supply and downward-sloping demand. Where the demand and supply curves meet, the price is $3 and the quantity is 500 pounds. If the sellers decide to sell for a price of $4, what do you expect will occur? Group of answer choices a shortage occurs, which puts upward pressure on the price. a surplus occurs, which puts downward pressure on the price. a shortage occurs, which puts downward pressure on the price. a surplus occurs, which puts upward pressure on the price
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