How will the equilibrium price of apples and the quantity of apples sold in the U.S. be effected by these events?

1. A new federal program requires one apple to be included in each subsidized school lunch throughout the country.

2. A fungus wipes out many of the apple orchards in the state of Washington. (Washington produces well over 50% of the U.S. apple crop each year).

3. What will happen to the equilibrium price of apples and the quantity of apples sold in the United States if the events in 1 and 2 happen at the same time?

4. How will the two events in 1 and 2 affect the lives of vegetarians in the U.S.?

Answer rating: 100% (QA)

Impact of Events on Apple Market 1 New school lunch program Effect Increase in demand for apples due ... View the full answer