Illustration of impacts of given events

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Illustrate each of the following events using a demand and supply diagram for bananas.

1. Reports surface that imported bananas are infected with a deadly virus.

2. Consumers' incomes drop.

3. The price of bananas rises.

4. The price of oranges falls.

Consumers expect the price of bananas to decrease in the future.

Reference no: EM1312706

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