Demand curve experiences an upward shift in supply curve

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Reference no: EM131163062

Suppose that a market with an inelastic demand curve experiences an upward shift in the supply curve. Using comparative statics, analyze how the equilibrium price and equilibrium quantity in this market will change as a result of an upward shift in the supply curve. What is the magnitude of the change in the equilibrium price and equilibrium quantity? Be sure to illustrate your answer with graph.

Reference no: EM131163062

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