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Suppose that the supply curve for a given product decreases while at the same time the demand curve for that same product increases. As a

Suppose that the supply curve for a given product decreases while at the same time the

demand curve for that same product increases. As a result of both changes occurring at

the same time, explain in words what impact these two changes together will have on the

equilibrium price and the equilibrium quantity for the given product.

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