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

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter3: Supply And Demand: Theory

Section3.3: The Market: Putting Supply And Demand Together

Problem 3ST

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