The graph represents the market for apples. Now, suppose that Evans Fruit Company, one of the industry's major suppliers of apple has decided to exit the market to focus on its other fruits. At the same time, the average price of apple has increased and the total amount of apple sales has increased. Supply Demand Quantity This means that in the market for apples, v the supply has A. increased v the demand has B. decreased v and shift in supply is shift in demand. c. larger than the D. smaller than the Price

The graph represents the market for apples. Now, suppose that Evans Fruit Company, one of the industry's major suppliers of apple has decided to exit the market to focus on its other fruits. At the same time, the average price of apple has increased and the total amount of apple sales has increased. Supply Demand Quantity This means that in the market for apples, v the supply has A. increased v the demand has B. decreased v and shift in supply is shift in demand. c. larger than the D. smaller than the Price

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter4: Demand, Supply, And Market Equilibrium

Section: Chapter Questions

Problem 7P

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Similar questions

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