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A few years ago, apple growers in the state of Washington produced an unusually large crop, due to favorable weather conditions.However, the farmers complained that
A few years ago, apple growers in the state of Washington produced an unusually large crop, due to favorable weather conditions.However, the farmers complained that their income actually decreased as a result, and the data confirmed this.
How can it be that apple farmers' income decreased with the larger crop? Use a graph and discuss the elasticity of demand to make your point.
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