Question: Assuming a competitive market for Rapid Antigen Tests (RATs), explain the effect on equilibrium price and quantity ( by using graphs) of the following scenario:

Assuming a competitive market for Rapid Antigen Tests (RATs), explain the effect on equilibrium price and quantity ( by using graphs) of the following scenario:

a television current affairs program runs a story indicating RATs are ineffective in detecting the current variant of COVID-19.

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