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Assume that the demand for paprika is perfectly inelastic.Now assume that there is a decrease in the supply of paprika.The result will be which of
Assume that the demand for paprika is perfectly inelastic.Now assume that there is a decrease in the supply of paprika.The result will be which of the following?
a.The demand curve for paprika shifts to the left.
b.The equilibrium quantity is unchanged.
c.Both the equilibrium price and quantity increase
d.There is an uncertain effect on equilibrium price, but quantity definitely increases.
e.Both a. and b. are correct.
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