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Back Example of Short Essa... Abdul Aziz Jusoh BAFB1023 OL b) The farmers had applied new technology in orange harvestin
Posted: Sun Jul 03, 2022 12:58 pm
by answerhappygod
- Back Example Of Short Essa Abdul Aziz Jusoh Bafb1023 Ol B The Farmers Had Applied New Technology In Orange Harvestin 1 (62.17 KiB) Viewed 10 times
Back Example of Short Essa... Abdul Aziz Jusoh BAFB1023 OL b) The farmers had applied new technology in orange harvesting. Price (RM) Po P₁ orange 1 Qo PO Ft I Q1 So C₁ Do (5 Marks) (2 marks) Quantity (units) Explanation: Initially, the demand DO and supply SO intersect at the original equilibrium EO where at quantity Q0 and price P1. (1 Marks) Applied w technology in orange harvesting enables farmers to use fewer factors of production will lower the cost of production and increase supply. This will shift the supply for the orange market shift rightward from SO to S1 and create a new equilibrium at E1. (1 Marks) (or any relevant explanations) In conclusion, hen supply shifts leftward, the price decrease to P1, and quantity supplied increase to Q1 at new equilibrium E1. (1 Marks) Rightward