Illustrate each of the following events using a demand and supply diagram for bananas. a. Reports surface
Question:
Illustrate each of the following events using a demand and supply diagram for bananas.
a. Reports surface that imported bananas are infected with a deadly virus.
b. Consumers’ incomes drop.
c. The price of bananas rises.
d. The price of oranges falls.
e. Consumers expect the price of bananas to decrease in the future.
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