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What happens to equilibrium price and quantity when there is an increase in demand coupled with a decrease in supply? a ) Equilibrium price increases,
What happens to equilibrium price and quantity when there is an increase in demand coupled with a decrease in supply?
a Equilibrium price increases, equilibrium quantity decreases
b Equilibrium price decreases, equilibrium quantity increases
c Equilibrium price and quantity both increase
d Equilibrium price and quantity both decrease
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