Consider this simple market for almonds. Almonds require a lot of water to produce them. A large share of almonds are produced in California, which has recently undergone serious droughts. These droughts only directly affect one curve. What effect would that curve shifting have on equilibrium in this market?
Consider this simple market for almonds. Almonds require a lot of water to produce them. A large share of almonds are produced in California, which has recently undergone serious droughts. These droughts only directly affect one curve. What effect would that curve shifting have on equilibrium in this market?
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter11: Resource Markets
Section: Chapter Questions
Problem 13PAE
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Consider this simple market for almonds. Almonds require a lot of water to produce them. A large share of almonds are produced in California, which has recently undergone serious droughts. These droughts only directly affect one curve. What effect would that curve shifting have on equilibrium in this market?
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