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Please refer to the following graph describing the market for basketballs. Assume that curves labeled D1 and $1 are before curves and D2 and $2
Please refer to the following graph describing the market for basketballs. Assume that curves labeled D1 and $1 are "before" curves and D2 and $2 are "after" curves. Which of the following best summarizes the changes that have occurred in this market? $2 $1 $9 Price $8 $7 $6 $4 $3 $2 $1 D1 D 1 2 3 4 5 7 8 9 10 Quantity O Demand has increased and supply has increased. O Demand has increased and supply has decreased. Demand has decreased and supply has increased. O Demand has decreased and supply has decreased
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