Consider the market for solar panels suppose that, Business Economics

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Consider the market for solar panels suppose that

Consider the market for solar panels. Suppose that technological advancements allow the price of batteries, a compliment to solar panels, to decrease significantly.

1: Draw supply and demand graph showing the initial equilibrium, any supply and/or demand shift, and new equilibrium.

2: What happens to the equilibrium price?

3: What happens to the equilibrium quantity?

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