Question 1 Using the demand and supply analysis, illustrate the graph and explain what might happen to the equilibrium p

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Question 1 Using The Demand And Supply Analysis Illustrate The Graph And Explain What Might Happen To The Equilibrium P 1 (78.86 KiB) Viewed 9 times

Question 1 Using the demand and supply analysis, illustrate the graph and explain what might happen to the equilibrium price and equilibrium quantity in the following events: a) With an increase in the donut producers, what will happen to the donut's market? (4 Marks) b) Petrol and car are complements, what happens to the market for car if the price of petrol (4 Marks) increases? c) The farmers had applied new technology in mango harvesting. What will happen to mango's market? (4 Marks) d) Milk is used to produce cheese. If the price of a kilogram (kg) of cheese rises, what will happen to the cheese's market? (4 Marks) e) In May market analysts predict that the price of chicken will rise in June. What will happen to chicken's market in June, ceteris paribus. (4 Marks) (Total: 20 Marks)