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Use the demand-supply diagram to show how the market equilibrium will change due to the following factors. Prepare 4 separate diagrams. Pls make sure you
Use the demand-supply diagram to show how the market equilibrium will change due to the following factors. Prepare 4 separate diagrams. Pls make sure you label your diagrams properly. 1. Shoes are an inferior good, and the income of consumers increases. 2. Apples and peaches are substitutes, and the price of peaches fall 3. Due to warm weather, wheat farmers experience a bumper harvest 4. Wages of workers working in apple farms increase, which increases the cost of production for farmers. At the same time, a new health study comes out showing that eating apples is beneficial for your health
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