An increase (rightward shift) in the demand for a good will tend to cause: An increase in the equilibrium price and quantity b. An increase in the equilibrium price and a decrease in the equilibrium quantity y A decrease in the equilibrium price and an increase in the equilibrium quantity d. A decrease in the equilibrium price and quantity

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.