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Assume that a product becomes less popular with consumers (a demand effect) and that input prices for the product increase (a supply effect). All else
Assume that a product becomes less popular with consumers (a demand effect) and that input prices for the product increase (a supply effect). All else equal, how will this affect the equilibrium price for that product?
A. No change in price.
B. It may rise or fall.
C. It will rise.
D. It will fall.
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