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Aplia Homework Answers Microeconomics Chapter 3

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Step 3 of 9 Due to a reduction in the quantity supplied, there is a shift in the supply curve to the left from S 1 to S 2. Initially, the equilibrium is at E 1, where the price is P 1 and quantity demanded is Q 1. Due to a decrease in the quantity supplied, there is a shortage, as the quantity demanded exceeds quantity supplied.

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Aplia Homework Answers Microeconomics Chapter 3

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