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2. Suppose the supply of widgets has decreased at the same time that the demand for widgets is rising. Use a properly graph to illustrate

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2. Suppose the supply of widgets has decreased at the same time that the demand for widgets is rising. Use a properly graph to illustrate how this will impact ill widget prices and ii} widget quantities exchanged. Are there any ambiguities about how this will either impact widget prices or quantities exchanged? The way I drew it on my graph is of course the widget price will go up and then the quality demand will barely go up as well. There denitely could be some ambiguities. For instance, with how I drew my graph where the quantity exchange barely moves and the price goes up, lets say these widgets are a necessity for business operations and for whatever reason there was a tax increase on them which resulted in the price increase

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