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Microeconomics Question 1 Using the demand and supply analysis, illustrate the graph and explain what might happen to the equilibrium price and equilibrium quantity in

Microeconomics

Question 1

Using the demand and supply analysis, illustrate the graph and explain what might happen to the equilibrium price and equilibrium quantity in the following events:

a) The buyers received the news that government would decrease the price of sugar the following week.

b) The farmers had applied new technology in orange harvesting.

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