Question
Question 7 (6 points) Over the last 30 years, the inflation-adjusted price of avocados has fallen substantially, while world consumption of avocados has grown enormously.
Question 7 (6 points) Over the last 30 years, the inflation-adjusted price of avocados has fallen substantially, while world consumption of avocados has grown enormously. Based only on this information (and no other sources), which of the following conclusions can you draw? CIRCLE all that apply, no explanation necessary: (i) Demand for avocados has risen (ii) Demand for avocados has fallen (iii) Demand for avocados hasn't changed (iv) I cannot conclude anything about demand (iv) Supply of avocados has risen (v) Supply of avocados has fallen (vi) Supply of avocados hasn't changed (vii) I cannot conclude anything about supply
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