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Suppose that a large number of Ukrainian jewelry producers shut down, reducing the supply of Ukrainian jewelry. However, at the same time, increased pro-Ukrainian sentiments
Suppose that a large number of Ukrainian jewelry producers shut down, reducing the supply of Ukrainian jewelry. However, at the same time, increased pro-Ukrainian sentiments among consumers worldwide cause the demand for Ukrainian jewelry to increase. As a result of these changes in supply and demand, how should we expect the equilibrium price and equilibrium quantity of Ukrainian jewelry to change?
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