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AndrewKraus AndrewKraus
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6 years ago
In a market for apples, a consumer purchases 30 pounds when the price of apples is $1 per pound and the consumer's income is $5,000 per month. When the price of apples increases to $2 per pound, without any change in the consumer's income, he decides to purchase only 15 pounds of apples. Suppose, after a given period of time, the consumer's income falls to $3,000 per month. His consumption of apples also decreases to 10 pounds. Using a graph, illustrate the difference between change in quantity demanded and the change in demand for apples.
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Microeconomics

Microeconomics


Edition: 1st
Authors:
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SudzburySudzbury
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AndrewKraus Author
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#2
6 years ago
Needed this for my economics assignment, thanks
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