Can you answer number 4 and 5 for me? Thank You. 1. In this scenario, the increased prices for peanut butter won't affect the market for apples at all asthe provided conditions are under the apple market and peanut butter is a totally different product,therefore the supply of apples remains unchanged.2. Now, when the new machine being updated, thus it will increase the production for applemarkets the more will be supplied in no time, therefore it will increase the supply of apples.3. In this scenario, when the wages get hiked for the workers of apple pickers, therefore it willaffect the production and supply of apples because they will now tend to work and produce lessdue to hiked wages and this DECREASES the supply of apples. For each of the following changes in the market for apples, explain why supply will increase, decrease, orremain unchanged.1. The price of peanut butter increases.2. A new and better apple picking machine is invented.3. The wages of apple pickers increase.4. Some apple farmers go out of business and cut down their orchards.5. The price of apples increases.

In a market, any change in the behavior of market participants or market conditions, it will affect…

For each of the following changes in the market for apples, explain why supply will increase, decrease, or remain unchanged. 1. The price of peanut butter increases. 2. A new and better apple picking machine is invented. 3. The wages of apple pickers increase. 4. Some apple farmers go out of business and cut down their orchards. 5. The price of apples increases.

For each of the following changes in the market for apples, explain why supply will increase, decrease, or remain unchanged. 1. The price of peanut butter increases. 2. A new and better apple picking machine is invented. 3. The wages of apple pickers increase. 4. Some apple farmers go out of business and cut down their orchards. 5. The price of apples increases.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter4: Labor And Financial Markets

Section: Chapter Questions

Problem 8SCQ: Which of the following changes in the financial market will lead In an increase in the quantity of...

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