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I Starting from equilibrium in the market for apples, determine the impact of > an increase in the price of oranges, cp. > a decrease
I Starting from equilibrium in the market for apples, determine the impact of > an increase in the price of oranges, cp. > a decrease in the wages of apple pickers, cp. > an increase in the income of consumers, cp. > a decrease in the wages of apple pickers AND an increase in the income of consumers, cp. (You must provide a graphical as well as verbal explanation for a complete answer. Your graph(s) must have all the necessary labelsotations clearly marked! You should refer to these marks/labelsotations in your explanation. Verbal explanation should identify the initial AND nal equilibrium, also the explanation concerning movements/shifts/etc., AND the end results in which the initial and nal equilibria are compared. Do not forget to present the process from the initial to the nal equilibria.)
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