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Answer to Question #76758 in Other Economics for Mehak

Question #76758
Using the demand and supply model, with regards to the cocoa industry; discuss the statement, "with demand forecast to outstrip supply, a crisis is looming for the industry"
Expert's answer
"With demand forecast to outstrip supply, a crisis is looming for the industry" means that if a supplier forecasts higher or lower demand than it actually is, then there may be over- or underproduction, which will be inefficient for the supplier and the market as a whole.

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