Q: How would each of the following affect the market supply curve for tobacco plant in North Carolina? Show your answers graphically and briefly explain the rationale behind each shift.

1. A drought sweeps through the state.
2. There is a hike in the price of fertilizer.
3. A new and improved crop rotation technique is discovered.
4. The government withdraws current tax breaks from tobacco farmers.

Submission Instruction:

All homework problems must be handwritten, diagrams hand-drawn, then scanned and uploaded as a PDF file only.You may download ADOBE SCAN App on your cell phone to scan your pages into one single PDF file before uploading to Canvas.

p/s Any resubmission due to illegible hand-writing will result in reduced points.