Consider the impact of on the market for staples

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Consider the impact of on the market for staples if the price of staplers increases. Draw a supply and demand curve to illustrate the market for staples, and then show the appropriate shift in supply or demand as a result of the change (ceteris paribus). Indicate on your graph whether there is a surplus or shortage at the original equilibrium price, and show the new equilibrium price and output. Explain briefly what happens in the market. Make sure your graph is well labeled and legible.

Reference no: EM131238928

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