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If the demand for sweaters increases at the same time as the supply decreases, what will happen to the equilibrium price and quantity?

A

The equilibrium price will increase and there will be no change in the equilibrium quantity.

B

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

C

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

D

The equilibrium price will decrease and there will be no change in the equilibrium quantity.

E

The equilibrium price will decrease and the change in equilibrium quantity is unknown.

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