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28-02-2024
Business

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If the demand curve for handcrafted candles shifts right due to a surge in popularity, how will this affect the equilibrium price and quantity of handcrafted candles?
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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