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Suppose the market for dodgeballs is competitive and in equilibrium. What will happen in the market if: 1. games using dodgeballs become hugely popular the price of rubber, an input into the production of dodgeballs, increases 2. Assume that all dodgeballs are made of rubber and there are no close substitutes. The competitive equilibrium price O changes ambiguously O increases O decreases The competitive equilibrium quantity O changes ambiguously O increases O decreases
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Suppose the market for dodgeballs is competitive and in equilibrium. What will happen in the market...
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