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Answer to Question #262096 in Economics for Samrat

Question #262096

If people begin to favour science fiction novels to a greater degree than previously, what is the effect on the equilibrium price and quantity of novels?


1
Expert's answer
2021-11-07T19:45:51-0500

As demand for science fiction novels goes up, the demand curve for science fiction novels shifts rightward. Therefore, equilibrium price and quantity increase.


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