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Question: use the supply and demand model to illustrate how each...

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Use the supply and demand model to illustrate how each of the following affects the market for cocoa beans, ceteris paribus. Briefly discuss, and state the change in price and quantity. a. A blight on cacao trees kills of much of the crop in Latin America. b. The price of carob increases. c. Workers organize into a union and get higher wages for farming Cocoa. d. Chocolate is clinically proven to prevent Alzheimer’s disease. e. The price cocoa beans are expected to drop in the near future.

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