The following graph plots the market for electric guitars in Chicago, where there are always over 1,000 music stores. Suppose the price of acoustic guitars decreases. (Assume that people regard electric guitars and acoustic guitars as substitutes.) Show the effect of this change on the market for electric guitars by shifting one or both of the curves on the following graph, holding all else constant. Note: Select and drag one or both of the curves to the 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. PRICE (Dollars per guitar) QUANTITY (Guitars) Supply Demand Demand Supply Now suppose Congress passes a new tax that decreases the income of Chicago reside If electric guitars are a normal good, this will cause the demand for electric guitars to decrease increase

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