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What could explain the simultaneous increases in the price of lithium and the production of lithium? Use supply and demand curves to explain your answer.

  • What could explain the simultaneous increases in the price of lithium and the production of lithium? Use supply and demand curves to explain your answer.
  • Hint:Price and equilibrium quantity have both increased. Would a shift in the demand curve or a shift in the supply curve lead to this result?

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