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Suppose that now illegal drugs are legalized

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190.Suppose that now-illegal drugs are legalized, increasing both the supply anddemand.We would expect (Draw the curves!)a.Price to go up and quantity to go down.b.Price to go down and quantity to go upc.Both price and quantity to go up.d.Price to go up, but the effect on quantity to be uncertain.e.Quantity to go up, but the effect on price to be uncertain.**PriceQuantityD1D2S
191.We observe that the price of paper clips has risen and the quantity being sold onthe market has fallen.Which of the following is the most likely explanation?
The following demand and supply schedules refer to the market for unicorns.Use them toanswer the next four questions.PriceQuantity demandedQuantity supplied$110$29$38$47$56$65192.What are the market-clearing price and quantity?234567
193.If the price is raised from $3 to $5, what is the change in quantity supplied?
194.If the unicorn rancher sets price equal to $6, there will bea.excess demand.b.excess supply.**c.equilibrium.d.a shortage.
195.Which of the following willnotincrease the demand for rice (i.e., will not shift thedemand curve)?

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Supply And Demand, price of burgers

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