5. Suppose that the international market for sugar is in equilibrium. Describe in a written sentence how the following c

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5 Suppose That The International Market For Sugar Is In Equilibrium Describe In A Written Sentence How The Following C 1 (22.5 KiB) Viewed 13 times

5. Suppose that the international market for sugar is in equilibrium. Describe in a written sentence how the following change to a determinant of supply and/or demand will affect the equilibrium price and quantity. Illustrate each answer with a supply-and-demand diagram depicting the shift(s) and the resulting effect on price and quantity. a. A disease on sugarcane plants kills off much of the sugarcane crop. b. A worldwide economic boom results in higher average incomes.