Illustrate what happens to consumer surplus into market

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Q. Assume bad wear in Florida ruins much of orange crop. Illustrate what happens to consumer surplus into market for oranges? Illustrate what happens to consumer surplus in market for orange juice?

Q. (Advanced analysis) In a private closed economy (a) marginal propensity to save is 0.25, (b) consumption equals income at $120 billion and (c) level of investment is $40 billion. Illustrate what is equilibrium level of income?

Reference no: EM1367954

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