Oatmeal is an inferior good and cold cereal is a substitute for oatmeal. The cross‐price elasticity of Raisin with respect to oatmeal is negative.   Using a well‐labeled graph show the effect on the oatmeal market for each of the following. (Please also provide a brief explanation of the relationship (e.g., positive/negative) and the reasons/logic for the relationship.   a. An increase in the price of raisins. b. An increase in income. c. A decrease in population size. d. An increase in the price of cold cereal

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