In January 2025
Answer to Question #184544 in Microeconomics for belinda
Maize is considered to be an inferior good. Assume that the original demand curve is D1 and the original supply curve is S1.
1.Consumer expert the price of maize to decrease in the future. Explain how this will affect the current situation in the maize market.
A price decrease expectation will increase the quantity demanded. On the other hand the suppliers will want to sell less wich will cause maize shortage
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