The graph represents the market for apples. Now, suppose that Evans Fruit Company, one of the industry's major suppliers of apple has decided to exit the market to focus on its other fruits. At the same time, the average price of apple has increased and the total amount of apple sales has increased. Supply Demand Quantity This means that in the market for apples, v the supply has A. increased v the demand has B. decreased v and shift in supply is shift in demand. c. larger than the D. smaller than the Price
The graph represents the market for apples. Now, suppose that Evans Fruit Company, one of the industry's major suppliers of apple has decided to exit the market to focus on its other fruits. At the same time, the average price of apple has increased and the total amount of apple sales has increased. Supply Demand Quantity This means that in the market for apples, v the supply has A. increased v the demand has B. decreased v and shift in supply is shift in demand. c. larger than the D. smaller than the Price
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 7P
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![The graph represents the market for apples. Now, suppose that Evans Fruit Company, one of the industry's major suppliers of apple has decided to exit the
market to focus on its other fruits. At the same time, the average price of apple has increased and the total amount of apple sales has increased.
Supply
Demand
Quantity
This means that in the market for apples,
v the supply has
A. increased
v the demand has
B. decreased
v and shift in supply is
shift in demand.
c. larger than the
D. smaller than the
Price](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3966b9a7-fe71-44cf-b953-e8752bb97164%2F83d36db0-b7b6-46b3-b9a3-f4448abad92e%2Ffntleyo_processed.png&w=3840&q=75)
Transcribed Image Text:The graph represents the market for apples. Now, suppose that Evans Fruit Company, one of the industry's major suppliers of apple has decided to exit the
market to focus on its other fruits. At the same time, the average price of apple has increased and the total amount of apple sales has increased.
Supply
Demand
Quantity
This means that in the market for apples,
v the supply has
A. increased
v the demand has
B. decreased
v and shift in supply is
shift in demand.
c. larger than the
D. smaller than the
Price
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