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A British Vegetable Shortage Has Predictable Effects on Vegetable Prices In a recent year, a heat wave in Britain resulted in sharp reductions in quantities
A British Vegetable Shortage Has Predictable Effects on Vegetable Prices In a recent year, a heat wave in Britain resulted in sharp reductions in quantities supplied at initially prevailing prices of most vegetables. Because quantities supplied were smaller than quantities demanded at those prices, vegeta ble shortages emerged across Britain. For Critical Thinking The effects of these shortages on prices were in accord Once the prices of vegetables stopped rising and reached with economic theory. Over a 12-month interval, the aver- new market clearing levels, what must have been true of the age price increases for selected vegetables were as follows; relationship between quanuties demanded and supplied in broccoli. 37 percent; cauliflower, 81 percent; carrots, the affected British vegetable markets? 55 percent: lettuce, 22 percent; and onions, 55 percent
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