Land in Sonoma, California, can be used to either grow grapes for pinot noir wine or to

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Land in Sonoma, California, can be used to either grow grapes for pinot noir wine or to grow Gravenstein apples. The demand for pinot noir shifts suddenly and sharply to the right. What will be the effect of the increase in demand for pinot noir on the equilibrium price and quantity of Gravenstein apples?
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Microeconomics

ISBN: 978-1292079578

Global Edition 1st Edition

Authors: David Laibson, John List

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