Consider the perfectly competitive market for steak $($a normal good$).$

Starting from long$-$run equilibrium, show graphically. what happens in the short and long run to q$,$ Q$,$ P$,$ and $$ in the market for steak $($in comparison to the starting point$)$ if

income decreases. Briefly explain.

Grading Guidelines:

$8$ points $-$ Used the correct graph$($s$)$ to illustrate the starting point of long$-$run equilibrium, labeled all curves and axes appropriately, placed the respective functions correctly relative to each other

$4$ points $-$ illustrated the short$-$run impact completely $($including profits$)$

$4$ points $-$ illustrated the long$-$run impact completely

$4$ points $-$ explained $($there is a difference between explanation and description$)$ the short$-$run impact completely

$4$ points $-$ explained $($there is a difference between

Please do the whole graph in a paper PLZ PLZ I don't have muc time