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2 P The economy goes into a 1. Draw and Label Equilibrium: recession causing 2. The Change: incomes to decrease Supply or Demand demand (Assume

2 P The economy goes into a 1. Draw and Label Equilibrium: recession causing 2. The Change: incomes to decrease Supply or Demand demand (Assume cereal is a Increase or Decrease decrease normal good). Shifter income 3. After: Price Quantity

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