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Suppose that the market for engagement rings is in equilibrium. Then as you watch CNN you learn about political unrest in South Africa. What do
Suppose that the market for engagement rings is in equilibrium. Then as you watch CNN you learn about political unrest in South Africa. What do you expect to happen?
a The equilibrium quantity of engagement rings will decrease.
b The equilibrium price of engagement rings will decrease.
c The demand for engagement rings will decrease.
d The supply of engagement rings will increase.
e None of the above
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