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use a suppy and demand diagram to illustrate the effect of the given shock on the equlibrium price and quantity in the specified competitive market.
use a suppy and demand diagram to illustrate the effect of the given shock on the equlibrium price and quantity in the specified competitive market. Explain whether there is a shift in the demand curve, the supply curve or neither.
Question. China and mexico are majior producers of textiles. Workers in Mexico decide to go onn strike. Show the effect on the market for Mexican Textiles. Show how the effect of the situation on the market for Chinese textile.
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