Having trouble representing a new market on a Macroeconomics supply and demand graph...?
BUT the demand for apples WA needs to produce is going up because MI needs them due to their shortage.
I have the graph drawn out with a right shift in both supply and demand.
In the article we were provided, we were told that other areas will need the apples as well, and this would be a new market entering in. Is that represented on a separate graph?
Also, wages have increased, and I represented this with P2. How do I go about finding new equilibrium price for this? Do I go out to supply or demand curve?