Please use a graph and words to explain your answer. In your graph, please label price on the y-axis and quantity on the x-axis, P1 as the initial equilibrium price, Q1 as the initial equilibrium quantity, P2 as the new equilibrium price and Q2 as the new equilibrium quantity, D1 as the initial demand curve and D2 as the new demand curve, S1 as the initial supply curve, and S2 as the new supply curve.
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