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The demand for low-gas-mileage cars is relatively inelastic, and the equilibrium price of low-gas-mileage cars is currently $P_1$. Suddenly, due to a drop in the price of steel, the supply curve for low-gas-mileage cars shifts right.

In the short run, due to the effect of steel on the market, the price is $P_2$.

In the long run, there are no other changes to the market, and the price is $P_3$.

What is true about the relationship between $P_2$ and $P_1$?
Select Option $P_2=P_1$$P_2>P_1$$P_2<P_1$
What is true about the relationship between $P_3$ and $P_2$?
Select Option $P_3=P_2$$P_3 > P_2$$P_3 < P_2$
What is true about the relationship between $P_3$ and $P_1$?
Select Option $P_3=P_1$$P_3 > P_1$$P_3 < P_1$Either $P_3=P_1$ or $P_3>P_1$Either $P_3=P_1$ or $P_3<P_1$
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