Draw a supply-demand diagram of the kenyan mangoes market

Reference no: EM13119006

In 1995, mango production in kenya fell by approximately 85% following a flood. the retail price of mangoes rose by a factor of 3. the huge increase in price was due to a ban on imports of bananas.some facts: it has been reported that in the absence of autarky trade, the consumer surplus in the mango industry would be about ksh 485m and the producer surplus about ksh 125m. if free trade mangoes was allowed, there would be an increase in consumer surplus of about ksh 165m, and a loss of producer surplus of ksh 56m.

a) draw a supply-demand diagram of the kenyan mangoes market to illustrate both the autarky and free trade positions. make sure you use all the information presented in the some facts above?

Reference no: EM13119006

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