A new restaurant is selling potatoes and fish. The price of fish in the fish market is increased and at the same time, the farmers of potatoes suffered because there was a strong storm it damaged the crop of the potato this month. 1- What will happen to the demand and supply in the market of potatoes? and why? (write shift to the right or to the left for the demand and for the supply and write the reason for the shift for each of them) ( shift) 2- What will happen to the equilibrium price and to the equilibrium quantity of potatoes in this market? (write an increase or a decrease in EP and EQ)

A new restaurant is selling potatoes and fish. The price of fish in the fish market is increased and at the same time, the farmers of potatoes suffered because there was a strong storm it damaged the crop of the potato this month. 1- What will happen to the demand and supply in the market of potatoes? and why? (write shift to the right or to the left for the demand and for the supply and write the reason for the shift for each of them) ( shift) 2- What will happen to the equilibrium price and to the equilibrium quantity of potatoes in this market? (write an increase or a decrease in EP and EQ)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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