Use supply and demand curve shifts to illustrate the effect of the following events on the market for apples. Make clear the direction of the change in both price and quantity sold. 1)- Scientists find that an apple a day does indeed keep the doctor away. 2)- The price of oranges triples. A drought shrinks the apple crop to one-third its normal size. 3)- Thousands of college students abandon the academic life to become apple pickers. 4)- Thousands of college students abandon the academic life to become apple growers.

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter5: Markets In Motion And Price Controls
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Use supply and demand curve shifts to illustrate the effect of the following events on the market for apples. Make clear the direction of the change in both price and quantity sold. 1)- Scientists find that an apple a day does indeed keep the doctor away. 2)- The price of oranges triples. A drought shrinks the apple crop to one-third its normal size. 3)- Thousands of college students abandon the academic life to become apple pickers. 4)- Thousands of college students abandon the academic life to become apple growers.
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