Cinco de mayo celebrations were affected by a rapid spike

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Reference no: EM13945657

In 2014, Cinco de Mayo celebrations were affected by a rapid spike in the price of limes. This spike was caused by heavy rains late in 2013 coupled with an outbreak of a citrus-killing bacterium in the lime producing state of Colima. Mexican drug cartels operating in the same region only worsened the problem (click the link to watch NBC's Lime Prices Skyrocket Due to Weather, Drug Cartels video).

Describe what you would observe in a supply-demand diagram that would cause the price of limes to rise. Also explain what must have happened to equilibrium quantity

The Max words is 150.

This is the address of that video.  http://www.nbcdfw.com/news/business/Prices-of-Limes-Rises-252574761.html

Reference no: EM13945657

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