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Q. a. For jalapeno peppers draw a graph of market. Be sure to label everything.
b. Draw a new graph that shows what changes would occur to your graph in part ‘a' if there was bad weather and the jalapeno pepper crop was severely damaged. Explain why you made these changes to the graph.
c. Redraw the graph you did in part ‘b' then add the changes that would occur to the jalapeno pepper market if suddenly Mexican food became popular, especially spicy Mexican food.
d. Explain what changes we will see to in the equilibrium price and quantity in the market for jalapeno peppers after the changes have occurred in part 'b' and part ‘c‘.
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She is now considering raising her prices by 20 percent to offset the increase in her monthly rent.
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Increasing the minimum wage will result in a decrease in employment for workers who now earn less than the new minimum wage.
If the number of labor hours increases by 10% and the number of hours of capital used decreases by 10%, what is the percentage change in output.
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