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Suppose that the market for premium bottled water is initially in equilibrium at point A. Further suppose the demand for premium bottled water increases rapidly
Suppose that the market for premium bottled water is initially in equilibrium at point A. Further suppose the demand for premium bottled water increases rapidly during? 2018. At the same? time, six more firms begin producing premium bottled water. A student remarks? that, because of these? events, we? can't know for certain whether the price of premium bottled water will rise or fall.
The new equilibrium quantity will be:
A. point D
B. between points E and F
C. either point C or point D
D. point C
A
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