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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 price (assuming the supply curves of the two fruits have the same steepness and they have the same initial equilibrium)? Question 6Answer a. Orange b. Apple c. Apple and Orange have the same change in equilibrium price d. None of the above
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