Question: Predict how the following event will affect the equilibrium price (Pe) and equilibrium quantity (Qe) for chocolate bars. Event: The price of sugar and corn,

Predict how the following event will affect the equilibrium price (Pe) and equilibrium quantity (Qe) for chocolate bars.

Event: The price of sugar and corn, inputs to chocolate bars, increase.

a. This event will cause an increase in equilibrium price and a decrease in equilibrium quantity.

b. This event will cause a decrease in equilibrium price and a increase in equilibrium quantity.

c. This event will cause decrease in equilibrium price and a decrease in equilibrium quantity.

d. This event will cause an increase in equilibrium price and a increase in equilibrium quantity.

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