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If supply is upward sloping,an increase in demand with no change in supply will lead to a(n) _____ in equilibrium quantity and a(n) _____ in equilibrium price.
Practical Value
The usefulness or applicability of something in real-world situations.
Real-World Applications
Refers to the practical or actual use of a concept, theory, or invention in day-to-day life or in specific industries.
Scientific Theories
Well-substantiated explanations of some aspect of the natural world, based on a body of evidence that has been repeatedly confirmed through observation and experimentation.
Natural Phenomena
Events or processes that occur in nature without human intervention, often studied in fields like physics, biology, and environmental science.
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