1. What is the effect on the equilibrium in the apple juice market if apple juice...

1. What is the effect on the equilibrium in the apple juice market if apple juice becomes less popular and a cheaper robot is used to pick oranges? Make a graph or two graphs to illustrate the change (just focus on the effect of these 2 changes, and make assumptions when needed) (33 points)

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Expert Solution

So we observe that with both the effects equilibrium price pf juice always falls however equilibrium quantity of orange juice may increase or decrease or remains same depending upon the magnitude of the shift of each curve.

Rahul Sunny answered 1 year ago

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