There has been rapid growth in the demand for the green leafy vegetable kale in recent years,

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There has been rapid growth in the demand for the green leafy vegetable kale in recent years, as consumers learned of its health benefits. The demand curve has shifted significantly rightward. However, the price of a bunch of kale in the grocery store has been fairly stable. Draw a demand-and-supply diagram showing the market for kale, and explain how the price of kale could remain stable in the face of such an enormous growth in demand. There are two possible scenarios in which the equilibrium price does not change.

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Microeconomics

ISBN: 9780134835839

16th Canadian Edition

Authors: Christopher T.S. Ragan

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