Suppose that the equilibrium price of greeting cards declined at the same time the equilibrium quantity of
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Question:
Suppose that the equilibrium price of greeting cards declined at the same time the equilibrium quantity of greeting cards increased. Which one of the following would most likely be responsible?
a. A decrease in the price of paper used to make greeting cards
b. A decrease in the demand for greeting cards
c. A decrease in supply and an increase in demand for greeting cards
d. An effective advertising campaign by the greeting card industry
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