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If the Supply of Monet Paintings Is Perfectly Inelastic, an Increase

Question 33

Multiple Choice

If the supply of Monet paintings is perfectly inelastic, an increase in the demand for them will increase:


A) equilibrium quantity but reduce equilibrium price
B) equilibrium quantity but equilibrium price will be unchanged
C) equilibrium price but equilibrium quantity will be unchanged
D) equilibrium price but reduce equilibrium quantity

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