The price of mangoes is currently $5.00 per pound. At this price, producers are supplying 4,000 pounds of mangoes. Point C on the graph shows the current equilibrium price and quantity. To which point will the equilibrium shift if the demand increases suddenly because of a non-price determinant of demand?
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- This enlarged the monetary supply and price levels of many European countries. ... Combined with this influx of gold and silver, population growth and urbanization perpetuated the price revolution. According to this theory, too many people with too much money chased too few goods.
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