1) using the graph, describe the effect of such events on the demand and supply curves and also label the lines you drew properly. 2.) also identify the new point of equilibrium. label it properly.
1) using the graph, describe the effect of such events on the demand and supply curves and also label the lines you drew properly. 2.) also identify the new point of equilibrium. label it properly.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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"While the world's appetite for chocolate grows more voracious each year, cocoa farms around the globe are failing, under siege from fungal and viral diseases and insects... Researchers predict a shortfall in beans from the cacao tree, the raw material from which chocolate is made, in as little as five to ten years."
1) using the graph, describe the effect of such events on the demand and supply
2.) also identify the new point of equilibrium. label it properly.
Transcribed Image Text:Price
Chocolate Market
Quantity
So
Do
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