Problem
1. Practical Application: During recessions Walmart's low prices attract more customers. Explain why this means that Walmart is selling inferior goods.
2. Practical Application: The American Medical Association announces that eating three apples a day will promote good health. How would this affect the demand for apples and the equilibrium price and the quantity sold?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.