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Uing the model of upply and demand, conider the market for navel orange. Illutrate the
impact on the market for navel orange if (i) the price of Cutie (a type of mandarin orange) fall
while (ii) change to the Clean Water Act mean that citru farmer have to adopt new expenive
farming practice to avoid nutrient runoff harming the environment. Explain the change to the
navel orange market, drawing concluion about expected change to the market price and
quantity for navel orange

Sagot :

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