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Category : Ceteris paribus

Banana Crops Writing Help

QUESTION 1 Assume floods have destroyed 80 percent of the banana crops.  Using graphical demand and supply analysis, explain the impact on the price and quantity of bananas in the market.                                                                                 2 Marks   NOTE: IN YOUR ANSWER EXPLAIN THE MARKET EQUILIBRIUM ADJUSTMENT    PROCESS.  QUESTION 2 Ceteris paribus, if a tax on petrol results in a large rise in the price of petrol, using graphical demand and supply analysis, explain what would be the impact on price and quan... More
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