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You own a vegan bakery where you sell gluten-free carrot cake. The current equilibrium price of your carrot cake is $15. You know for a
You own a vegan bakery where you sell gluten-free carrot cake. The current equilibrium price of your carrot cake is $15. You know for a fact that your carrot cake is a "normal" good (not an inferior good). If incomes increase in your market, and nothing else changes, which of the following will most likely be your new equilibrium price? Multiple Choice $12 $18 $14 $11
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