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Banana economics assignment

Essay specific features

 

Issue:

Business

 

Written by:

Richard C

 

Date added:

May 22, 2010

 

Level:

University

 

Grade:

A

 

No of pages / words:

6 / 1421

 

Was viewed:

7869 times

 

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Essay content:

The quantity supplied of any good or service is the amount that sellers are willing and able to see. The law of supply states that, ceteris paribus, the quantity supplied of a good rises when the price of the good rises (Gans, King and Mankiw, 2005). Queensland?¦s ??region [that] produces over 90 per cent of Australia?¦s banana crop, has been wiped out for this year?¦ (Koch, Wahlquist, 2006), and as a result of the decrease in the number of banana suppliers, prices immediately began to soar dramatically throughout the nation...
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Australian Banana Growers Council chief executive Tony Heidrich had already suggested that banana prices were ??certainly going to go up and go up dramatically?¦ (Koch, Wahlquist, 2006). As a result, within two days of the cyclone, banana prices at Coles and Woolworths rose to $4.98/kg from $3.98/kg on Monday and are expected to continue to rise...
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