Business, 11.02.2020 22:50 kcceff4085

All of the goods below are either sold in perfectly competitive markets or in secondary markets that are also competitive. Suppose that the market (or the secondary market) starts in equilibrium. For each of the following scenarios, determine whether there would be upward or downward pressure on the price immediately after the event.

a. The Nile River floods this year add an exceptional amount of silt to the soil, resulting in increased crops of cotton.
b. Sub-zero weather in New York, where the Super Bowl is being played causes people to become disinterested in watching the Super Bowl live. What happens to ticket price in the scalping market?
c. An outbreak of mad cow disease causes Americans to abstain from eating beef.
d. An impending nuclear war causes people to stock up on twonkies, a popular snack cake provided by many companies

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All of the goods below are either sold in perfectly competitive markets or in secondary markets that...

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