Using this information, draw a graph of the initial equilibrium solved for in round 1, correctly labeling the equilibrium quality and the equilibrium price2) on the graph you drew in question 1, draw the shift and label the new equilibrium that occurred in round 2 of simulation

Start Over Leaderboa rd \\ _ H 1 ' . ., . . . **7| l ultsforG S . I 72' ' 0| | Penalty: lb , ' l ' l. ' I ' 4 ' ' l .. l Round Summary: Round Supply Equation Demand Equation Actual 0 Submitted 0 Difference Status Penalty 1 7 + 2P 65 - 4P 26.33 26.34 0.01 Too much 0.02 2 7 + 2P 61 - 4P 25.0 24.1 0.9 Too little 0.9 3 27 + 2P 80 - 4P 44.67 34.2 10.47 Too little 10.47 Shifts Summary: Round Shift Type Description 2 demand consumer incomes decrease 3 demand population increases 3 supply price of inputs decreases