In May 2005, a 1963 painting by Andy Warhol called Liz was sold in New York for $12.6 million. 1.) Using the line drawing tool, illustrate the supply curve that would be consistent with a price of $12.6 million. Properly label this line. 2.) Using the point drawing tool, identify the equilibrium price and quantity reflected by the intersection of the demand and supply curves you created. Label this point 'E'. Carefully follow the instructions above and only draw the required objects.

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