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Hi, please help me answer the following. Thanks! 1. Market for Organic Vegetables: Vegetarianism decreases as a result of medical reports describing the negative health
Hi, please help me answer the following. Thanks!
1. Market for Organic Vegetables: Vegetarianism decreases as a result of medical reports describing the negative health consequences of vegetarianism; tighter regulations on the definition of organically grown products. Given these conditions, the price of organic vegetables continues to increase. Show using a supply and demand graph, the shifts that occur.2. Day care spaces: Since more mothers are returning to the labor force, government is also introducing subsidies for day-care operators to accommodate this growing need. Nonetheless, the price of day care continues to rise. a. Show using a supply and demand graph, the shifts that occur.b. Given your understanding of shortage and surplus, explain what happens at the old equilibrium price and how the market (mothers and day care operators ) react in response to these changesStep by Step Solution
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