What is the effect on equilibrium price and equilibrium quantity(of spaghetti) if?
Wednesday, August 12th, 2009
a)A bumper crop of Canadian durum wheat (from which spaghetti is made) results in a drop in the price of durum wheat. A bumper crop is an above average crop yield.
and if b)Increased worldwide demand for rice leads to an increase in the price of rice (which many people see as an alternative to spaghetti in preparing meals.)
By: matthewmayberry22
and if b)Increased worldwide demand for rice leads to an increase in the price of rice (which many people see as an alternative to spaghetti in preparing meals.)
By: matthewmayberry22