1. 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.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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1. 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.
Answer true or false and if the statement is false
Transcribed Image Text:1. 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. Answer true or false and if the statement is false
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