With the aid of a well labelled diagram for each part, show and explain the effect of the following changes on the equilibrium price, equilibrium quantity and equilibrium point. a) Market for Huawei phone: People switch to blackberry phone. b) Market for beer: Government imposes a sales tax on beer. c) Market for Mirinda drink: Price of Mirinda drink has gone up.
With the aid of a well labelled diagram for each part, show and explain the effect of the following changes on the
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