The Market for Wapanzo Beans

-Refer to the table above. Suppose that in normal years demand is represented by Case 2 and supply is represented by Case B. If there is a drought in the wapanzo bean growing region then supply will ________ and demand will ________.

Question

The Market for Wapanzo Beans

-Refer to the table above. Suppose that in normal years demand is represented by Case 2 and supply is represented by Case B. If there is a drought in the wapanzo bean growing region then supply will ________ and demand will ________.

Quizplus · Accepted Answer

A drought in the wapanzo bean growing region would reduce the quantity of beans available, shifting the supply curve to the left, which corresponds to moving from Case B to Case A. However, the drought does not directly affect consumers' demand for beans, so demand stays at Case 2.