Due Date: 10 April 2021 QUESTIONS: Scenario 1: Directions: Read and analyze the situations then answer what is being asked on the given questions. in year 2000, the high price of crude oil in the world market increased the production of renewable energy. Soya beans is an input in the production of renewable energy. Farmers have switched from producing wheat to soya beans. Due to the new market for soya bean the price of wheat increases in the market. A. Explain the impact of soya farming on the supply of wheat. (2 Marks) B. Why do you think that the farmers have switched to soya production? Justify your arguments. (2 Marks) C. Analyze the impact of renewable energy on the price of crude oil. (2 Marks) D. Examine the price of bread in the market. (2 Marks) E. What is market equilibrium? Explain your answer. (2 Marks) To Lecturer Dr/Mr/Mrs I certify that all of this work is done by me as in accordance with the Academic Integrity / Plagiarism policies. I am responsible for any violations with regard to this. Students Name: Submission Date: Instructions for completion of Assignment