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Consider the impact of coronavirus on the market for car mechanics in Victoria during lockdown . Describe the process of moving from the initial equilibrium
Consider the impact of coronavirus on the market for car mechanics in Victoria during lockdown.
Describe the process of moving from the initial equilibrium to the final equilibrium. Clearly identify one relevant condition of demand and one of supply, the direction in which the demand and supply curves shift and state the impact on the equilibrium price and quantity of car mechanics in Victoria.
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