The following graph shows the shortrun aggregate supplyr (SEAS) curve and the longrun aggregate supply {LRAS} curve for an economy. Suppose the world price of oil decreases rapidly without warning but is not expected to remain at the new low level permanently. However, in the short run, it is less costly for rms to produce goods and services. Illustrate the shortrun eiact of this change, before any longrun aofiustments have taken place, by shlfting one or both of the supply curves (SEAS appf LRAS) on the following graph, Ifyoo do not believe there will be any longterm eiacts, leave the LRAS lh its current position. Note: Select and drag one or both of the curves to \"die desired position. Curves will snap into position. so if you try to move a curve and it snaps back to its original position, just drag it a little farther. 240 Lake El 200 ERAS SRAS + 150 u LRAS LLI 3: Lu J 120 Lu 2 o: EL on 443 AD 0 o a 12 Is 24 REAL GDP (Trillions of dollars) Assume that aggregate demand is unaffected by the oil price drop. After the economy has fully adjusted to the oil price drop, the longrun effect is v in aggregate output and V in the price level