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d. You are told that there was a shock in the market that led to a shift in either the demand or supply curves (but
d. You are told that there was a shock in the market that led to a shift in either the demand or supply curves (but not both). You are also told that at the old equilibrium price there would be an excess supply. [5 points] 1. Based on the information above, do you know which curve shifted? 2. How will the equilibrium price and quantity change
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