Suppose supply is fixed at 35 units.
-Refer to Figure 3.14 to answer this question. If this market is originally in equilibrium and demand increases by 10, what will be the new equilibrium price and quantity?
A) $3 and 45 units.
B) $5 and 35 units.
C) $5 and 45 units.
D) $7 and 35 units.
Correct Answer:
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