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1. You notice that the price of lettuce is increasing. a. If you are a producer of lettuce, explain whether this increase in price results

1. You notice that the price of lettuce is increasing.

a. If you are a producer of lettuce, explain whether this increase in price results in higher profits for your business? Should you increase your production of lettuce? (6 marks)

b. If you are a consumer of lettuce, explain whether this increase in price makes you worse off? (4 marks)

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