Answer Happy

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.