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Consider the market for McDonald’s hamburgers in Moscow. What outcomes does the basic model of supply and demand predict in this market if Zip’s decides to lower the prices on all of their hamburgers?

a. Price and quantity of McDonald’s hamburgers will both decrease
b. Price and quantity of McDonald’s hamburgers will both increase
c. Price of McDonald’s hamburgers will increase, quantity will decrease
d. Price of McDonald’s hamburger will decrease, quantity will increase

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