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Assume that the market for flour, bread and jam are initially in equilibrium. Imagine that a long-term drought destroys much of the wheat crops. Analyze

Assume that the market for flour, bread and jam are initially in equilibrium. Imagine that a long-term drought destroys much of the wheat crops. Analyze the effect of the long-term drought on the market for each of the three goods. Explain using the demand-supply diagrams.

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