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Equilibrium Scenarios Create TEN scenarios where there is a market at equilibrium and you either shift demand, supply, or both. 3 should involve a demand
Equilibrium Scenarios
Create TEN scenarios where there is a market at equilibrium and you either shift demand, supply, or both. 3 should involve a demand shift, 3 should involve a supply shift, and 4 should involve a shift of both. Here is what is expected for each scenario: 1- Write the scenario 2- Explain whether you are shifting supply or demand and identify the shifter. 3- Shift the curve (Please DO NOT FORGET TO DRAW the curve shift!) 4- Tell me whether price increases or decreases. (Do not put both) 5- Tell me whether quantity increases or decreases. (Do not put both)Step by Step Solution
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