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Suppose the Equilibrium Price of Bottled Water Has Risen from $1.00

Question 71

Multiple Choice

Suppose the equilibrium price of bottled water has risen from $1.00 per bottle to $2.00 per bottle and the equilibrium quantity has increased. These changes are a result of a _______ shift of the _______ Curve for bottled water.


A) rightward; supply
B) rightward; demand
C) leftward; demand
D) leftward; supply

Correct Answer:

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