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Simultaneous events in the market for dark chocolate

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Reference no: EM131651989

Suppose we observe the following two simultaneous events in the market for dark chocolate. First, there is an increase in the demand for dark chocolate due to public announcements about dark chocolate being good for your health. Second, there is an increase in the supply of dark chocolate due to technological advances making it faster and cheaper to process dark chocolate.Explain the effects of these two events on the equilibrium price and quantity of dark chocolate. Which curve shifted nd which direction they shifted. The effect on equilibrium price and quantity.

Reference no: EM131651989

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