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Quantity in the market for sugar and the market for honey

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Reference no: EM132228536

The question is: "Suppose a severe drought hits the sugarcane crop. Using a supply and demand model explain how this will affect the equilibrium price and quantity in the market for sugar and the market for honey."

Am I right in that the demand for the honey model will move to the right and the demand for the sugar model will move to the left? If so, what happens to supply in each model?

Reference no: EM132228536

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