(Solved): Consider the market shown in equilibrium at point \( \mathbf{A} \) in the graph to the right. Supp ...

Consider the market shown in equilibrium at point \( \mathbf{A} \) in the graph to the right. Suppose the market experiences the following shock: An increase in factor prices 1.) Use the line drawing tool to show the result of the market shock. Properly label this line. 2.) Use the point drawing tool to indicate the new equilibrium price and quantity. Label this new point 'B'. Carefully follow the instructions above, and only draw the required objects.