Effect of the equilibrium price and quantity of orange juice

Reference no: EM13174225

What is the effect of the equilibrium price and quantity of orange juice of the following events if they occur one at a time?

a. The price of apple juice descreases: equilibrium price _______equiibrium qunatity ________

b. The price of apple juice decreases, and the wage rate paid to orange grove workers increases-equilibrium price_________equilibrium quantity________

c. Orange juice becomes more popular, and a cheaper machine for picking oranges is used-equilibrium price__________equilibrium quantity_________

d. Joggers switch from bottle water to orange juice-equilbirum price__________ equiblibrium quantity________

Reference no: EM13174225

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