1. Suppose that there is an announcement that chocolate causes cancer. What would happen to equilibrium price and quantity in the market for Godiva chocolate?2. Suppose that the price of Hersheys chocolate increases. What would happen to equilibrium price and quantity in the market for Godiva chocolate?3. Suppose that the price of sugar increases. What would happen to equilibrium price and quantity in the market for Godiva chocolate?4. Suppose that a company invents a better machine for mixing the ingredients to make chocolate candies. What would happen to equilibrium price and quantity in the market for Godiva chocolate?
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