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shahabkhon shahabkhon
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A year ago
Consider the global market for barley, an agricultural commodity. Suppose that in August 2020, the equilibrium price and quantity were P = $150 per tonne and Q = 350 million tonnes. In August 2021, the equilibrium price and quantity were P = $150 per tonne and Q = 410 million tonnes. Which of the following is the best possible explanation for this change in market equilibrium?

▸ There has been a simultaneous increase in demand and increase in supply of barley.

▸ There has been a decrease in supply of barley.

▸ There has been a decrease in demand for barley.

▸ There has been a simultaneous increase in demand and decrease in supply of barley.

▸ There has been an increase in demand for barley.
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Microeconomics

Microeconomics


Edition: 17th
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KocojdaKocojda
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