You are studying the market for a particular brand of perfume. You notice that a couple of changes are happening in the market at the same time. The flower that creates the perfume scent has been affected by a disease. In addition, consumers begin to worry about the safety of the ingredients that are used in the perfume. What do you expect will happen to the equilibrium price and the equilibrium quantity? Explain your answer.

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The Answer of You are studying the market for a particular brand of perfume. You notice that a couple of changes are happening in the market at the same time. The flower that creates the perfume scent has been affected by a disease. In addition, consumers begin to worry about the safety of the ingredients that are used in the perfume. What do you expect will happen to the equilibrium price and the equilibrium quantity? Explain your answer.

You Are Studying the Market for a Particular Brand of Perfume