Question: 5. In the short-run specific-factors model, consider a decrease in the stock of land. For example, suppose a natural disaster decreases the quantity of arable

5. In the short-run specific-factors model, consider a decrease in the stock of land.

For example, suppose a natural disaster decreases the quantity of arable land used for planting crops.

a. Redraw panel

(a) of Figure 5-11 starting from the initial equilibrium at point A.

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