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Provide two examples of events that can cause a shift in industry supply. Draw a graph to illustrate your answer.
Cartel
An agreement among competing firms to control prices, production, and marketing of goods, limiting competition.
Tin
A chemical element with the symbol Sn and atomic number 50, known for its malleability and resistance to corrosion.
Embargoes
Governmental orders that restrict commerce and trade with specified countries or the exchange of specific goods.
Repudiates
To refuse to accept or be associated with a contract or agreement, effectively rejecting its validity.
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