1. Draw a graph depicting the Texas Panhandle market for onions. The Panhandle consists of four counties:...
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1. Draw a graph depicting the Texas Panhandle market for onions. The Panhandle consists of four counties: El Paso, Hudspeth, Culberson, and Reeves. When price is $2 per 3-pound bag, the quantity demanded in El Paso is 50,000 bags. In Hudspeth, it’s 75,000 bags, in Culberson 30,000 bags, and in Reeves 90,000 bags. When price drops to $1 per bag, the quantity demanded in El Paso is 60,000 bags, in Hudspeth 90,000 bags, in Culberson 45,000 bags, and in Reeves 100,000.
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