Note:-Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure. QUESTION 6Mr. Jones, an entrepreneur living in Mozambique, saw an opportunity to make a profit by supplying chickensto the market in Mozambique. He argued that the slaughtering of millions of chickens in Mozambique,because of bird flu was causing a shortage of chickens. By importing chickens from Madagascar he believedthat he would be able to make a profit by selling them in Mozambique, where the shortage of chickens wouldcause the price of chickens to increase.The following diagram represents the market for chickens before bird flu and the slaughtering of millions ofchickens in Mozambique,Use the above diagram to explain what the possible impact of the slaughtering of chickens would be on the marchickens in Mozambique,a) There would be a decrease in demandb)The demand curve would shift to the left.c) An excess demand would be created.d) The equilibrium price would decrease and the equilibrium quantity would increase.

The demand curve is the graphical representation of different quantities of commodities that the…

Use the above diagram to explain what the possible impact of the slaughtering of chickens would be on the mar chickens in Mozambique, a) There would be a decrease in demand b) The demand curve would shift to the left. c) An excess demand would be created. d) The equilibrium price would decrease and the equilibrium quantity would increase.

Use the above diagram to explain what the possible impact of the slaughtering of chickens would be on the mar chickens in Mozambique, a) There would be a decrease in demand b) The demand curve would shift to the left. c) An excess demand would be created. d) The equilibrium price would decrease and the equilibrium quantity would increase.

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter4: Supply And Demand: An Initial Look

Section: Chapter Questions

Problem 2TY

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