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Vanilla can only be grown in limited and highly specialized locations; most of these are now in use. Suppose that a new cupcake craze vastly

Vanilla can only be grown in limited and highly specialized locations; most of these are now in use.

Suppose that a new cupcake craze vastly increases demand What do you expect would happen to price and quantity of vanilla. Where do you anticipate most effects? Explain (using a diagram if needed).

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