Answer to Question #105389 in Microeconomics for s

Question #105389
. Suppose that wheat producers throughout the Midwestern United States experience unusually good weather and so produce a larger than normal harvest. Explain using a diagram what effect this harvest will have on Canadian wheat farmers?
1
Expert's answer
2020-03-16T12:02:23-0400

In this case the supply of wheat will increase, as a result the equilibrium price of wheat will decrease, and equilibrium quantity will increase.


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