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The arrow is consistent with which of the following events? As a result of lower incomes, people are switching from organic milk to lower-cost substitutes.
The arrow is consistent with which of the following events? As a result of lower incomes, people are switching from organic milk to lower-cost substitutes. The government has increased the value-added tax on organic milk, leading to higher prices. This has reduced demand. Due to higher demand for milk products in emerging economies, milk prices in the United States have increased, thus lowering demand. The arrow is consistent with all of these events
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