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Unformatted text preview: SHOW the changes in the market on the graph and EXPLAIN what happens to equilibrium quantity and price (increase or decrease?) in the space provided . a) In the market for SUVs, gasoline prices rise 25% over a six-month period. b) In the market for coffee, severe global weather systems destroy 30% of the coffee bean crop. c) In the market for cereal, the price of cardboard rises. 3. Consider the graph below: a) What type of graph is the graph above? b) Give TWO conclusions can we draw about the graph above (there are many right answers here) 2002...
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This note was uploaded on 01/22/2012 for the course ECO 101 taught by Professor Laniga during the Fall '08 term at SUNY Oswego.
- Fall '08