3. draw a graph that starts with the equilibrium that resulted after the shift in round 2 of the simulation. on the same graph, draw the two shifts and the new equilibrium that occurred in round 3 of your simulation. label both the old and the new equilibrium quantity and equilibrium price

Supply Equation 7 + 2P 7 + 2P 27 + 2P Round Demand Equation 65 7 4P 6'l -4P 80 - 4P \"5| Penalty: \"'5 Start Over Leuderbourd 1 Round Summary: Actual 0 Submitted 0 26.33 26.34 25.0 24.1 44.67 34.2 Shifts Summary: Shift Type demand demand SUpply Difference 0.01 0.9 'l 0.47 Status Too much Too little Too little Description consumer incomes decrease population increases price of inputs decreases Penalty 0.02 0.9 10.47