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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 decreases. 2. Apples and peaches are substitutes, and the price of peaches fall (show impact on apple market only) 3. Wages of workers working in apple farms decrease, which decreases 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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