2000: By the beginning of the year, the scare over contaminated strawberries ended when the media reported

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2000: By the beginning of the year, the scare over contaminated strawberries ended when the media reported that the initial reports about the contamination were a hoax. A series of floods in the Midwest, however, destroyed significant portions of the strawberry fields in Iowa, Illinois, and Missouri. The market price was $8 per bushel, and 3.5 million bushels were sold.

Find linear demand and supply curves that are consistent with this information.

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Microeconomics

ISBN: 9780470563588

4th Edition

Authors: David Besanko, Ronald Braeutigam

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