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(a) Consider the information on changes in sales, prices, and pounds in the fruit market. Assuming a change in only one of supply or demand,
(a) Consider the information on changes in sales, prices, and pounds in the fruit market. Assuming a change in only one of supply or demand, what is happening in the market for fruit? Show and explain using a supply and demand diagram. (b) Again, consider the information on changes in sales, prices, and pounds for fruit. What does this information tell us about elasticity? (c) Again, consider the information on changes in sales, prices, and pounds for fruit. Calculate elasticity. Which elasticity are you calculating? (d) Consider the markets for apples, grapes, peaches, and pears. Use the equation TR = P 0
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