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Refer to the Demand and Supply schedules below showing the market demand and supply for beef. DEMAND SUPPLY Price ( $ ) Quantity ( lbs

Refer to the Demand and Supply schedules below showing the market demand and supply for beef.

DEMAND SUPPLY

Price ($) Quantity (lbs)  Price ($) Quantity (lbs)

2 1100  2 200

3 1000  3 400

4 900  4 600

5 800  5 800

6 700  6 1000

7 600  7 1200

8 500  8 1400

3. Assume the Surgeon General issues a report which touts the health benefits of eating more beef which causes market demand to increase by 200 at each price point. Draw the resulting shift in the demand curve. (8 points)

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