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Supply, Demand, and Market Equilibrium
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Entrepreneurship
ENT.012 Supply, Demand, and Market Equilibrium
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A high price for student-designed pins attracts two more approved sellers to the next market day. Demand is unchanged. What is the expected longer-run adjustment?
A
Supply increases, putting downward pressure on price and raising quantity sold.
B
Quantity demanded falls at every price because more sellers enter.
C
Demand increases, keeping price high and lowering quantity.
D
Supply decreases because more sellers create competition.
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