According to a news article, The health benefits of coconut oil have been challenged by the American
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According to a news article, “The health benefits of coconut oil have been challenged by the American Heart Association and other organizations in recent years and that has hurt demand.” The article also noted that more plantations growing coconuts had “sprung up in the [Philippines] and elsewhere.” Use a demand and supply graph to illustrate your answers to the following questions.
a. Can we use this information to be certain whether the equilibrium price of coconut oil increased or decreased?
b. Can we use this information to be certain whether the equilibrium quantity of coconut oil increased or decreased?
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a We cannot be certain whether the equilibrium price of coconut oil increased or decreased based on ...View the full answer
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