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Suppose the following event occurs. There is adecreaseinthepriceofproductionequipment. 1.) Using the line drawing tool , draw the appropriate shift resulting from the market shock mentioned
Suppose the following event occurs.
There is adecreaseinthepriceofproductionequipment.
1.) Using the line drawing tool, draw the appropriate shift resulting from the market shock mentioned above. Label the new line appropriately.
2.) Using the point drawingtool, show the new equilibrium quantity and price. Label this point "E1."
Carefully follow the instructionsabove, and only draw the required objects.
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