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Microeconomics

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Market Shifts: More like Blahberries

AWAKE-NJA3EX

A magazine article was just released making the case that strawberries taste bad and are not very healthy. This article proved to be heavily influential, and lots of people are becoming less interested in buying strawberries.

What is likely to happen to the equilibrium price of strawberries, and why?

A

The equilibrium price decreases because demand shifts left.

B

The equilibrium price decreases because demand shifts right.

C

The equilibrium price increases because demand shifts left.

D

The equilibrium price increases because demand shifts right.

E

The equilibrium price increases because supply shifts left.

F

The equilibrium price decreases because supply shifts right.