Answer to Question #128207 in Microeconomics for Asemahle

Question

Graphically illustrate and explain the effect of each of the following changes on the market demand for sunflower oil:
Q.6.1 An increase in the market price of sunflower oil . (5)
Q.6.2 An decrease in the market price of olive oil, a substitute in consumption. (5)
Q.6.3 The results of a research study indicating that sunflower oil has several health (5) benefits that have until now not been identified.

Answer 1

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