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wrote...
Posts: 205
A month ago
Using a graph, illustrate the effect that an increase in production costs will have on the equilibrium price and quantity of a good.
Textbook 

Microeconomics: Principles, Applications, and Tools

Edition: 8th
Authors:
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wrote...
Posts: 228
A month ago
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The graph shows a decrease in supply. The supply curve shifts to the left, causing equilibrium price to rise, and equilibrium quantity to fall.
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A month ago
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