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1. Why did the first shift occur? 2. What are the effects? 3. Why did the second shift occur? 4. What are the effects? 5.

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1. Why did the first shift occur?

2. What are the effects?

3. Why did the second shift occur?

4. What are the effects?

5. What are the total effects?

6. Are the producers better or worse off and why?

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