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Suppose that in the rice market demand shifts due to a new rice diet that is being marketed in the U.S. as a cure for
Suppose that in the rice market demand shifts due to a new rice diet that is being marketed in the U.S. as a cure for cancer. Simultaneously the supply curve shifts due to a flood that affects the rice crop in California. What is the most likely outcome in this situation? Group of answer choices the equilibrium price increases the equilibrium price increases, albeit by a negligible amount the supply curve will shift again after demand meets supply the demand curve will shift back to its original level
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