can someone explain what i’m supposed to do here?

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Question: Consider the market for granola bars, which is a perfectly competitive market. Suppose that taste…
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Question: Consider the market for granola bars, which is a <a href=perfectly competitive market. Suppose that taste…” />

Show transcribed image text Consider the market for granola bars, which is a perfectly competitive market. Suppose that tastes shift away from granola bars so that the market demand curve shifts leftward. Answer the following questions about the effect of this change in tastes assuming external economies are present. The following graph shows the market for annual granola bar consumption. Initially, the market is in a long-run equilibrium at point A. After the change in tastes and the leftward shift in demand, the market moves to point _in the short run. In the long run, the supply curve shifts from SI to S2, which causes the market to move to point_in the long run. Comparing the two long-run equilibria on the graph, you can see that the granola bar market is an example of On the preceding graph, use the purple line (diamond symbols) to plot the long-run market supply curve for granola bars. (Hint: Make sure that the line passes through two of the points A, B, C, or D.)

Consider the market for granola bars, which is a perfectly competitive market. Suppose that tastes shift away from granola bars so that the market demand curve shifts leftward. Answer the following questions about the effect of this change in tastes assuming external economies are present. The following graph shows the market for annual granola bar consumption. Initially, the market is in a long-run equilibrium at point A. After the change in tastes and the leftward shift in demand, the market moves to point _in the short run. In the long run, the supply curve shifts from SI to S2, which causes the market to move to point_in the long run. Comparing the two long-run equilibria on the graph, you can see that the granola bar market is an example of On the preceding graph, use the purple line (diamond symbols) to plot the long-run market supply curve for granola bars. (Hint: Make sure that the line passes through two of the points A, B, C, or D.)

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