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The current war between Russia and Ukraine has had adverse impacts on the global market of several essential goods. The long- run effects on trade

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The current war between Russia and Ukraine has had adverse impacts on the global market of several essential goods. The long- run effects on trade and industries of Less Developing Countries (LDCs) such as Kenya are however likely to be mixed with gains in form of development of import substitution industries emerging. Using graphs: a) Explain the short-run impact of the war on international market of wheat? (5 marks) b) Demonstrate the possible long-term positive effect of the war on Kenya's agricultural sector? (5 marks) c) Evaluate the short-run challenges faced by rms in Kenya's petroleum industry with respect to the foreign exchange rate? (5 marks) d) Give a prediction of the likely behavior of a household demand for alternatives to wheat in LDCs within the context of high cost of living? (5 marks) e) Consider the circumstances of households in Ukraine and explain why price of coal is expected to rise more over December 2022'? (5 marks) f) Elucidate on the reported record high profits made by petroleum rms in the USA over the last quarter period of 2022

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