Explain using the concepts of supply and demand

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Problem 1: You are a business owner who runs a small store (you sell organic fruit). You have learned that there has been bad weather in the fields, so fewer fresh fruits will be available. Also the advertising of a competitor is good enough to persuade consumers of organic fruits not to eat them. Explain using the concepts of supply and demand (the market theory) what could happen in terms of changes in price and quantity.

Reference no: EM132985102

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