1. Draw a labeled graph showing the supply and demand curves. Mark P₁ and Q₁ on your graph. Then show an increase in supply (as opposed to an increase in the quantity supplied.) Mark P2 and Q2 on your graph.
1. Draw a labeled graph showing the supply and demand curves. Mark P₁ and Q₁ on your graph. Then show an increase in supply (as opposed to an increase in the quantity supplied.) Mark P2 and Q2 on your graph.
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 20P
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