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The graph below shows the supply and demand in the market for sweaters in the city of Carrollton. The winter is particularly cold and long
The graph below shows the supply and demand in the market for sweaters in the city of Carrollton. The winter is particularly cold and long this year, and the price of wool has increase. How will the equilibrium quantity change?_____________ (increase/decrease/ambiguous) How will the equilibrium price change?_____________(increase/decrease/ambiguous)
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International Economics
Authors: Dennis Appleyard, Alfred Field
8th Edition
978-0078021671, 0078021677
