For the market for Vick’s polo shirts, the CEO has
simultaneously implemented an improved production process...
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Economics
For the market for Vick’s polo shirts, the CEO has
simultaneously implemented an improved production process and has
been indicted for illegal dog fight gambling. Which of the
following statements best describes what happens to equilibrium?
Equilibrium price goes up and equilibrium quantity change is
ambiguous Equilibrium price goes up and equilibrium quantity goes
down Equilibrium price goes down and equilibrium quantity change is
ambiguous Equilibrium price goes down and equilibrium quantity goes
down Equilibrium price change is ambiguous and equilibrium quantity
goes down
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