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Assuming a normal market, with a positively sloped supply and negatively sloped demand, which is initially in equilibrium. Given the situation stated below, fill in

Assuming a normal market, with a positively sloped supply and negatively sloped demand, which is initially in equilibrium. Given the situation stated below, fill in the blanks using the pull down menu.

Market for Cheese

A widespread disease haswiped out many dairy herds, and cooking with cheese has become a new trend promoted by many famous chefs.

(a)

Demand will not change

is indeterminate (cannot determine)

decrease

increase

(b)

Supply will not change

is indeterminate (cannot determine)

decrease

increase

(c)

Equilibrium price will not change

is indeterminate (cannot determine)

decrease

increase

(d)

Equilibrium quantity will not change

is indeterminate (cannot determine)

decrease

increase

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