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The price of mangos in Country Z changed from $200 per unit to $300 per unit while the supply changed from 120 units to 200
The price of mangos in Country Z changed from $200 per unit to $300 per unit while the supply changed from 120 units to 200 units.
- Derive the supply function
- Using the supply function that was derived, estimate the quantity supplied for mangos at a price of $210 per unit.
- What is likely effect of a drought in the main farming areas in Country Z on equilibrium price and quantity? Illustrate your answer graphically.
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