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Draw the market, show the shift that will occur in the market, and identify what happens to the equilibrium price and quantity (increase/decrease) in...

Draw the market, show the shift that will occur in the market, and identify what happens to the equilibrium price and quantity (increase/decrease) in the market. Make sure that your graphs are labeled properly. 


1. What would happen to the equilibrium price and quantity of lanes if coffee shops began using a machine that reduced the amount of labor necessary to produce them thereby reducing overall cost in production of lanes?

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