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: Draw and label a supply and demand graph for surfboards below.
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Identify equilibriurn price
quantity.
u) tn ZbOs, the world's largest producer of sur{board foam stopped production. Demonstrate on the
graph the effect of this change.
surfing becomes widely popular. Demonstrate on the graph the effect of
b) Now assume
this change
c) Comparef, to the original equilibrium, identify the effect that parts (a) and (b) together have on:
that
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i.
ii.
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Equilibrium Price
Equilibrium quantitY
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