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Supply & Demand Practice Question

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Supply & Demand Practice Question - The Question
Our supply and demand question is as follows:

Illustrate each of the following events using a demand and supply diagram for bananas:

  • Reports surface that some imported bananas were infected with a virus.
  • Consumers' income drop.
  • The price of bananas rises.
  • The price of oranges falls.
  • Consumers expect the price of bananas to increase in the future.
In the next section we will examine how you begin to answer such a supply and demand question.

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