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At the supermarket, you notice that the price of apples has doubled over the previous week. (a)Suggest reasons why the price of apples has increased.

At the supermarket, you notice that the price of apples has doubled over the previous week.

(a)Suggest reasons why the price of apples has increased.

(b)As consumers respond to the price change, explain how the equilibrium price and quantity for apples and one other closely related product might be affected.

Also to draw at least one diagram, plus explain the answer

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