Draw a supply curve, S1. Then draw a less elastic supply curve, S2. 
Definitions:
Inflation Rate
A rise in the cost percentage of goods and services in an economy during a certain period.
Depreciate
The gradual reduction in the economic value of tangible fixed assets due to wear and tear over time.
Euro
The Euro is the official currency of the Eurozone, used by 19 of the 27 European Union countries.
Real Exchange Rate
The rate at which two currencies can be exchanged after adjusting for their differing levels of inflation.
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