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Draw supply and demand curves to illustrate the following sequence of events. Assume upward sloping supply curves and downward sloping demand curves and show the
Draw supply and demand curves to illustrate the following sequence of events. Assume upward sloping supply curves and downward sloping demand curves and show the changes on ONE GRAPH. 1. In year 1, there is an increase in the price of beef, a substitute for chicken. Show what happens in the chicken market. In year 2, the price of beef remains high, and an outbreak of disease kills millions of chicken. Show the additional effect on the chicken market
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