Suppose that the demand and supply curves for green tea are stated functionally as QD = 700 - P and QS = 400 + 2P. Suppose also that a study is released proving that the regular consumption of green tea prolongs life by at least a decade, and the result is that the quantity demanded of green tea doubles at the initial equilibrium price. The equilibrium price in this case will increase by A) 100% B) 140% C) 200% D) 300% E) Insufficient information to compute Answer: C

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