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Refer to Scenario 5. Suppose the weather is very bad and the supplies of apples and oranges are reduced by half. Will apples or oranges
Refer to Scenario 5. Suppose the weather is very bad and the supplies of apples and oranges are reduced by half. Will apples or oranges have the larger change in equilibrium quantity (assuming the supply curves of the two fruits have the same steepness and they have the same initial equilibrium)? Question 7 Answer a. Orange b. Apple c. Apple and Orange have the same change in equilibrium quantity d. None of the above
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