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PLZ HELP ASAP I HAVE 5 min before it due !!! this is for Econ

PLZ HELP ASAP I HAVE 5 min before it due !!! this is for Econ-example-1
User Jlodenius
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1 Answer

6 votes

Answer:

increased

Step-by-step explanation:

The graph shows the equilibrium price, which is an intersection of the demand and supply curves.

Letter A depicts the supply curve, while C is the supply curve. The arrow points to the equilibrium price or the prevailing market price.

Letter B shows the demand curve has shifted to the right(outwards). The shift in the demand curve has brought about a new intersection point between the old supply curve and the new demand curve. The new intersection represents the new price. As per the graph, the new price is at a higher point than the old price, meaning a price increase.

User Fejs
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