Draw supply and demand curves for a product showing the equilibrium price and quantity.Illustrate what would happen if all the transaction costs in the market for the product were reduced.Generally,what is the impact of transaction costs on market operations?

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The Answer of Draw supply and demand curves for a product showing the equilibrium price and quantity.Illustrate what would happen if all the transaction costs in the market for the product were reduced.Generally,what is the impact of transaction costs on market operations?

Draw Supply and Demand Curves for a Product Showing the Equilibrium