Question: Please help by providing explanations alongside the answer. Thank you. Consider the market for wheat shown in the gure to the right. What would be

Please help by providing explanations alongside the answer. Thank you.

Consider the market for wheat shown in the gure to the right. What would be the impact ofa decrease in the price of substitutes in production of wheat? 1. Using the line drawing tool, draw the appropriate shift that results from that market shock. Label your line properly. 2. Using the point drawing tool, show the new equilibrium quantity and price. Label the new equilibrium properly. Carefully follow the instructions above. and onlj.r draw the required objects. Price at ANGLU'IOH Market for Wheat Quantity

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