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After a recent atmospheric phenomenon, a large amount of the fruit crop was destroyed simultaneously with the arrival of the high season of gastronomic events.
After a recent atmospheric phenomenon, a large amount of the fruit crop was destroyed simultaneously with the arrival of the high season of gastronomic events.
- Graph to represent the intersection of the demand and supply curves which establish the equilibrium point, the price and the quantity of the initial equilibrium.
- Analyze and identify the curves moves to find the equilibrium point, the price, and the quantity of the final equilibrium as compared to the initial equilibrium.
- Evaluate in terms of:
- Effect on demand (increases or decreases
- Effect on supply (increases or decreases
- Effect on equilibrium price and quantity (increases or decreases)
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