Answer to Question #216950 in Microeconomics for Ananna

Question

You hear that a cyclone is heading towards your country and it will destroy much of this year’s
jackfruits. If this information about the cyclone is available for all so that all buyers and sellers in
the jackfruit market expect the price of jackfruits to rise in the future, what will happen immediately
to the supply and demand for jackfruits and the equilibrium price and quantity of jackfruits? Explain
your answer with the help of demand and supply diagram. (6)

Answer 1

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