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A new diet fad has resulted in soybeans madness.Graph the new equilibrium price. (Soybeans) The increase in demand for soybeans move the demand curve up
A new diet fad has resulted in soybeans madness.Graph the new equilibrium price. (Soybeans)
The increase in demand for soybeans move the demand curve up and to the right.The new price will be set at the intersection of supply and demand where the upward shift reflects an increase in equilibrium price because the new higher price will be demanded in the market as a result to have a higher demand.If demand increases price increases.
Please illustrate the answer given, I don' t know how to draw the supply curve in a graph.
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