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12 P 1. Draw and Label Equilibrium: New firms begin to start 2. The Change: making cereal (Analyze Supply or Demand supply the entire industry).

12 P 1. Draw and Label Equilibrium: New firms begin to start 2. The Change: making cereal (Analyze Supply or Demand supply the entire industry). Increase or Decrease increase Shifter competition 3. After: Price Quantity

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