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These are the demand and supply curves for tires. The price of rubber increases very sharply. Draw on the same graph the new demand-supply situation.

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These are the demand and supply curves for tires. The price of rubber increases very sharply. Draw on the same graph the new demand-supply situation. (5 points) Does the equilibrium price increase or So decrease? Does the equilibrium quantity increase or decrease? Price Po The represents a shift of the curve, and a movement along the curve. Do 0 Qo Quantity

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