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Exhibit: Simultaneous Shifts in Demand and Supply
-(Exhibit: Simultaneous Shifts in Demand and Supply) D₁ and S₁ are original supply and demand curves, and S₂ and D₂ are new curves. In this market, the original equilibrium changed from point ________ to point ________ .

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Exhibit: Simultaneous Shifts in Demand and Supply

-(Exhibit: Simultaneous Shifts in Demand and Supply) D₁ and S₁ are original supply and demand curves, and S₂ and D₂ are new curves. In this market, the original equilibrium changed from point ________ to point ________ .

Quizplus · Accepted Answer

The original equilibrium is at point J, where the original demand curve (D1) intersects the original supply curve (S1). The new equilibrium is at point L, where the new demand curve (D2) intersects the new supply curve (S2).

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