Ireland's economy is in both short-run and long-run equilibrium, as shown in the graph below. Assume the countries of OPEC enter into a price war, causing the price of oil to decrease.

a. Show the effect on the short-run equilibrium from a decrease in oil prices. Using the graph, draw either the new AD curve or new AS curve resulting from this price change.

Instructions: Use the tool provided "New Curve" to plot the appropriate line. After placing the curve, click on "Select" and choose whether to label the curve "AD1" or "AS1" from the dropdown menu.