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- For each question start with a supply and demand graph of the market for tennis rackets. What happens to supply or demand in each scenario? Explain why and show on graph labeling the new equilibrium point.Create a Graphical Presentation of the Supply Curve and give interpretations.help me understand supply and demand please
- Draw a demand and supply graph, label all axes, and the equilibrium price and quantity. Once you have done this draw what would happen if there was a decrease in the number of buyers in the marketCarefully explain what is happening in the following market. Indicate the impact if any on demand, supply, price and quantity.1. Draw a labeled graph showing the supply and demand curves. Mark P₁ and Q₁ on your graph. Then show an increase in supply (as opposed to an increase in the quantity supplied.) Mark P2 and Q2 on your graph.