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If the supply of apples increased and the demand for apples decreased, what would happen to equilibrium price and quantity?

A

The equilibrium price will increase and the equilibrium quantity will decrease.

B

The equilibrium price will increase and the equilibrium quantity will increase.

C

The equilibrium price will increase and the change in equilibrium quantity will be unknown.

D

The equilibrium price will decrease and the change equilibrium quantity will be unknown.

E

The equilibrium price will decrease and the equilibrium quantity will decrease.

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