Suppose there are a series of large forest fires, which affect the lumber industry while, at the

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Suppose there are a series of large forest fires, which affect the lumber industry while, at the same time, consumers prefer less wooden furniture. The wooden furniture market would experience:

a. An increase in price and an increase in quantity

b. An increase in quantity and an indeterminate change in price

c. A decrease in quantity and an indeterminate change in price

d. An increase in price and an indeterminate change in quantity

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Intermediate Microeconomics and Its Application

ISBN: 978-0324599107

11th edition

Authors: walter nicholson, christopher snyder

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