Accurately describes how hot dog market is affected

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Suppose the price of pork, an input in the production of hot dogs, increases. Which of the following accurately describes how the hotdog market is affected?

A) equilibrium price decreases and equilibrium quantity decreases

B) equilibrium price increases, and equilibrium quantity increases

C) equilibrium price increases and equilibrium quantity decreases

D) equilibrium price decreases, and equilibrium quantity increases

Reference no: EM13837909

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