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Please help me with this microeconomics question: Draw a supply and a demand curve and label the market equilibrium on the axes with P1 and
Please help me with this microeconomics question:
Draw a supply and a demand curve and label the market equilibrium on the axes with P1 and Q1.
In the same graph, show the effects of an increase in supply and a decreases in demand. Label the new equilibrium values on the axes with P2 and Q2.
Add one more curve to your graph - either for supply or demand demand - sand show that the effect of this simultaneous shift is qualitatively ambiguous in one of the variables.
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