Question

With the aid of a diagram, show the effect of the following changes on the equilibrium price, quantity and equilibrium point. a) Market for tomatoes: Massive flood has destroyed 50% of the tomatoes on the tomato field. b) Market for coca cola: Price of coca cola has gone up. c) Market for bread: Consumer’s income has increased and cost of production has increased. d) Market for housing: increase in the number of marriages and increase in the price of construction materials. e) Market for beer: Government imposes a sales tax on beer. f) Market for maize: Increase in the number of maize farmers and increase in consumer taste for maize.

Answer 1

Explanation:

answer

is in the above picture