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danielahchf
danielahchf
15.12.2020 • 
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Suppose that the panels below represent the supply and demand curve for a pound of beef in Texas. The equilibrium at S1 and D1 represent where the market starts and then each panel represents a different change in the market conditions. A global pandemic that impacts the state of Texas causes economic hardships and consumer income decreases. Beef is a normal good. Identity the panel above that corresponds to the supply or demand shift and select the answer that corresponds to the new equilibrium price and quantity.

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