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Wholesale prices of South Africa's most favoured fish-and-chips choice, Cape hake, have climbed in recent years to above R45/kg on a whole-weight basis. Assuming an
Wholesale prices of South Africa's most favoured fish-and-chips choice, Cape hake, have climbed in recent years to above R45/kg on a whole-weight basis. Assuming an increase in demand for Cape hake. This in turns leads to an increase in supply for chips (a complement of Cape hake in production). As a result, the equilibrium price would __________ and equilibrium quantity would __________ in the market for chips. a) increase; increase b) increase; decrease c) decrease; increase d) decrease; decrease
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