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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