The price of SUVs, a substitute-in-production for sedans, has increased over the last year. Show the effect of this event on the market for sedans by shifting the appropriate curve in the graph shown. What is the new price? $ What is the new quantity? thousand million Price($ thousand) 50 45 40 35 30 25 20 15 10 5 0 0 1 2 Market for Sedans 3 4 5 6 Quantity in millions of cars 7 Supply 8 Demand 9 10

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