Answer to Question #329493 in Economics of Enterprise for Portia

Question #329493

The maize grown in Mphumalanga is used primarily to feed livestock. Suppose that the current "foot and mouth disease" scare were to lead to a significant drop in the size of cattle herds nationwide. What impact would you expect in the market for maize?


1
Expert's answer
2022-04-17T17:02:42-0400

In this situation the demand for maize will decrease, so both equilibrium price and quantity of maize will decrease too.


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