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Unformatted text preview: that the demand for the few bananas is very high, therefore the store can mark up the price to see customer is willing to barter their money for that precious fruit. The demand curves downward from the left to the right. (p.12, para. 4) On the other hand, when the store has won the bidding at the fruit auction, the supply, or numbers of bananas, is high. Therefore, the store can be lenient on the price. The supply curve to slope upward, from left to right. (p.13, para.2) The final sales price is determined through the supply and the demand of the bananas. When the supply and demand curves cross, at which point the competition of bidding will stop and the farmer and store have agreed on a price the store will sell the bananas, so the customers are satisfied with both, the supply and the price....
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- Winter '08
- Supply And Demand