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Answer to Question #75963 in Other Economics for Sihle Ndarane

Question #75963
Using a well labelled diagrams, explain how the equlibrium quantity of apples will change as a result of the following;
2.2.1 A change in the wage of farm workers from R120 to R200 per day
2.2.1 A decrease in price of a fertilizers and a concurrent increase in the demand for apple juice.
Expert's answer
2.2.1 A change in the wages of farm workers from R150 per day to R200 per day will cause a decrease in supply, so the equilibrium price will increase and equilibrium quantity of apples will decrease.
2.2.2 A decrease in the price of fertilizers and a concurrent increase in the demand for apple juice will cause an increase in supply and later in demand too, so the equilibrium price will fall or rice (uncertain change) and equilibrium quantity of apples will increase.

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