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Assume you have the following information for the global market for agricultural commodity X. For each scenario, use demand and supply analysis to provide a likely explanation for the change in market equilibrium. The prices are per bushel and the quantities are millions of bushels.ScenarioAugust 2018August 2019a.p∗ = $142 Q∗ = 315p∗ = $180 Q∗ = 315b.p∗ = $142 Q∗ = 315p∗ = $128 Q∗ = 360c.p∗ = $142 Q∗ = 315p∗ = $135 Q∗ = 275d.p∗ = $142 Q∗ = 315p∗ = $142 Q∗ = 400