a4efb6bb1e429f7f808d981db26d5c9a_16e47fa63b773bbcf11ec52781b312ed - Price data shows that Banana prices were steady between years 2009-2011 and then

A4efb6bb1e429f7f808d981db26d5c9a_16e47fa63b773bbcf11ec52781b312ed

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Price data shows that Banana prices were steady between years 2009-2011, and then increased from about $2-$3 per kilo to $13-$16 dollars per kilo after February 2011. 1- What movements in in supply and demand would be consistent with the changes in Banana prices? Discuss the factors and mechanisms that have causes these patterns of price change. Use Demand and Supply diagrams when needed. 2- Suppose that in Queensland between 2006- 2009 the prices of Bananas increased, and then between 2011- 2013 quantity of Banana sold decreased. Could it be possible that the demand for the banana decreased between years 2006 and 2009 and again between 2011 and 2013? Explain your answer. Topic b) Green Tea market in China An article in The Economist (2015) described how the price of
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Unformatted text preview: Longjing Green Tea in Hangzhou Zhejiang in China had increased 30-fold between January to April 2014. The article noted that, due to low prices for this particular tea in the previous years, the amount of land set aside for growing the tea in Hangzhou , Zhejiang in the current season had been halved. As well, some scientific research indicated that this particular green tea is an effective antidote to the swine flu that had been spread out in some regions in China. 1-Explain why the price of Longjing Green Tea has increased. 2-Discuss what is likely to have happened to the quantity of tea produced. Use D-S diagrams where required to illustrate your answer....
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