1. Use shifts in the supply and demand curves to illustrate the effects of the following events on the apple market. Please clarify the trend of change in price and quantity sold. a. Scientists announced the conclusion of a new study that eating an apple a day is good for health. b. The price of oranges is three times more expensive c. Drought reduces apple production by a third of the normal harvest. d. Thousands of workers turned to apple growers.

1. Use shifts in the supply and demand curves to illustrate the effects of the following events on the apple market. Please clarify the trend of change in price and quantity sold. a. Scientists announced the conclusion of a new study that eating an apple a day is good for health. b. The price of oranges is three times more expensive c. Drought reduces apple production by a third of the normal harvest. d. Thousands of workers turned to apple growers.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter5: Markets In Motion And Price Controls

Section: Chapter Questions

Problem 1P

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Question

1. Use shifts in the supply and demand curves to illustrate the effects of the
following events on the apple market. Please clarify the trend of change in price and
quantity sold.
a. Scientists announced the conclusion of a new study that eating an apple a
day is good for health.|
b. The price of oranges is three times more expensive
c. Drought reduces apple production by a third of the normal harvest.
d. Thousands of workers turned to apple growers.

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