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  3. the following graph shows the market for tortilla chip initialy...

Question: the following graph shows the market for tortilla chip initialy...

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The following graph shows the market for tortilla chip. Initialy, the market is in a long-run equilbrium Suppose that a change in testes resulted in a rightward shift in demand graph, shilt the demand or supply curve to reflect this change in tastes. Then use the grey point (star symbal) to indicate the new short-nun equiibrium Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther Short-run Seppty Shot-um Supply Shod-run Equbm Long.run Equhbeum Long-run Supply QUANTITY (Thousands of bags) ·In the short run, the supply eure will In the short run, firms will suffer economic loases urve and then use the purple point (diamond symbal) to indicate the resulting mew long On the previous graph, sho run equilibrium earn econbmic profits Comparing the two long-run equilibria on the graph, you can see that the tortilla chip market is an exsmple of

Document1-Word 9S ReviewV Tell me AaBbCcD Adsb A BBCCD AaBbCcD teSubtale Subt Styles Drop down options for second question are shift leftward, remain unchanged, and shift rightward Options for third drop down are high cost industry, low cost industry, decreasing cost industry, and increasing cost industry Please plot pints on graph with coordinates so I can interpret. Thank you

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