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The market for canned tomato soup in Australia is perfectly competitive. This sector primarily employs unskilled labour and is considered an infenor good Using the

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The market for canned tomato soup in Australia is perfectly competitive. This sector primarily employs unskilled labour and is considered an infenor good Using the demand and supply model, explain the effect of each of the following on equilibrium price and quantity. a. Drought in the tomato growing region of Australia. b An increase in the price of take away food from restaurants and cafes c The classification of tomatoes as the healthiest vegetable by the Cancer Council. d. An increase in the minimum wage

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