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"<span>D. More people turned to custom made goods and away from cheap, mass-produced items" is not true. In fact it was quite the opposite thanks to industrialization. </span>
Answer:
If the demand is very high
AND
supply matches the demand OR the supply doesn't match the demand, the higher demand leads to a higher equilibrium price.
Explanation.
It depends on the law of supply and demand. If the supply matches the demand OR the supply doesn't match the demand, the higher demand leads to a higher equilibrium price. But when the demand is less but supply is excess, the prices drop.
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