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Draw the demand and supply curves for wheat. Label the curves D Subscript 0 and S Subscript 0. Draw a point at the equilibrium price
Draw the demand and supply curves for wheat. Label the curves D Subscript 0 and S Subscript 0. Draw a point at the equilibrium price and equilibrium quantity. Label the point P Subscript 0. Draw and label a curve to show the effect of the supply disruptions from Russia and Ukraine. Draw a point at the new equilibrium price and equilibrium quantity. Label the point P Subscript 1
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