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Answer to Question #98482 in Economics for Maria Herring
Question #98482
Show an increase in demand for chocolate ice cream, explain the determinant you used to show this increase in demand.
How would I show this on a graph?
How would I show this on a graph?
Expert's answer
An increase in demand for chocolate ice cream is a rightward shift of the demand curve. As a result of this shift both the equilibrium price and quantity will increase.
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