Is information likely to cause a shift in demand or supply

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Reference no: EM13773853

Suppose that the American Heart Association has determined that pistachios are extremely heart healthy and can lower bad cholesterol levels.

1. Is the information likely to cause a shift in demand or supply?

2. What will happen to price?

3. In the short run, how will a perfect competitor react to the new price?

4. What will happen to the market price in the long run?

5. Why do you expect this to happen?

Reference no: EM13773853

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