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Discuss how equilibrium prices and quantities changed

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This post should be in RESPONSE TO THE FOLLOWING QUESTIONS and must be 250 words. USE OF PEER- REVIEWED SOURCES IS A MUST FROM THE BETHELUNIVERSITY DATABASE BUT IN YOUR OWN WORDS, NO DIRECT QUOTES. Find an article or use an example from your own business experiences in which supply and/or demand changed. Do not choose the market for labor. The analysis for a labor market is different from a typical good or service.

Include each of the following in your initial post.

1. Explain which curve shifted and which shifter was affected. (If you think both curves shift, for simplicity, just choose one of the curve shifts to analyze.)

2. Discuss how equilibrium prices and quantities changed.

[Hint: Demand shifters are listed on pages 105-111 of your text. Supply shifters are covered on pages 116-119.

Reference no: EM131086600

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