Draw the change in the supply and/or demand curves, market equilibrium price, and market equilibrium quantity traded, that would occur in the market for Brazil grown rice in response to the following news: a. The nation of China eliminates restrictions on sales of Brazil rice. b. A new strain of “wonder” rice is developed which increases productivity. c. Celebrities promote the health benefits of quinoa.
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Microeconomic equilibrium arrangements investigate several person interactions and linkages, which may include customers and suppliers, in order to establish stable equilibria. These mathematical models are necessary for comprehending market volume and price.
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I also want to know what happens to the change in the supply and/or
:if d. The price of wheat increases.
e. The price of fertilizer used in farming increases.
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