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Neville Partogi
on Nov 04, 2024

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When the supply of blueberries increases while the demand for blueberries also increases, the equilibrium ________ of blueberries will definitely ________, ceteris paribus.

A) price; increase
B) price; decrease
C) quantity; increase
D) quantity; decrease

Equilibrium Quantity

The amount of goods or services supplied and demanded at the equilibrium price, where the quantity supplied equals the quantity demanded.

Demand Increases

A situation in which the quantity of a product or service that consumers are willing and able to buy at a specific price rises.

  • Acquire insight into the notion of market equilibrium and how alterations in supply and demand can alter the equilibrium price and quantity.
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PS
PORNTHIP SAYASONTHINov 07, 2024
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