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Unformatted text preview: (1pt) (a)This diagram could describe the impact of a bumper crop due to excellent weather conditions in a particular region. (b) This diagram could describe the impact of an unexpected freeze on the citrus industry in Florida. (c) This diagram could describe the economic effects of biotechnology, where the marginal costs of production fall by 5%. (d) (a) and (c) ii) The net effect on society is given by: (1pt) (a) - B-C (b) C + E (c) -C E (d) B E...
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- Spring '09