Solution-Explain supply and demand diagrams

Explain supply and demand diagrams

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Reference no: EM131032

Question: Explain each of the following using supply and demand diagrams.

(a) When a cyclone hits Queensland, the price of bananas rises in supermarkets throughout the country.

(b) When school holidays end, the price of interstate air travel in Australia falls.

(c) When a war breaks out in the Middle East, the price of Petrol rises and the price a used Ford falcon falls.

Reference no: EM131032

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