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The first key step to answering this type of IB Economics question is to define the key terms. Aggregate supply is defined as total amount of goods and services that producers of an economy are willing to...

The equation for a line is y(x)=ax+b.Because it intersects the y axis at x=0 at y=1y(x)=b=1a is equal to the gradient of the function so the line is given as y(x)=3x+1In order to get the two intersection...