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Consider the market for oranges. Explain how each of the following actions are likely to affect price and quantity OF ORANGES in the market. Consider
Consider the market for oranges. Explain how each of the following actions are likely to affect price and quantity OF ORANGES in the market. Consider each case separately. State any assumptions you make. In the spaces below each question, give a verbal explanation and include a graph (which may be hand drawn), making sure you clearly label the demand and supply curves and the prices and quantities transacted in the market, both before and after each change. Also please label your axes. Supermarket apple prices increase substantially
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