Assuming hypothetical equilibrium in Demand/Supply Model of Apples, illustrate impact of following events:
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Assuming only price changes, then at lower prices, a consumer is willing and ... The law of demand and our models illustrate this behavior. ... The factors of supply and demand determine the equilibrium price.
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Assuming hypothetical equilibrium in Demand/Supply Model of Apples, illustrate impact of following events: Suppose the Doctors recommend eating Apples every morning. The Monsoon rains adversely affect the Apple Harvest. The government announces increase in Wages of workers.
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