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Introduction
There are two parts in this assignment. You will need to develop one graph in Part I and a series of graphs for Part II.
Part I: Demand and Supply Curves
Table 4.1 represents supply and demand for a piece of medical equipment.
Part II: Changing Pe and Qe
For this part of the assignment, you do not use the numbers provided for Part I. For each of the following situations, create a graph of equilibrium in a market. Then, graphically show how each curve will shift. Indicate the direction in which each shift will occur. Finally, show how the Pe and Qe are affected by each situation.
Table 4.1
Price
Quantity Demanded
Quantity Supplied
400
90
10
800
80
20
1200
70
30
1600
60
40
2000
50
2400
2800
3200
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