The following table shows the quantity demanded and quantity supplied of grapefruits (in millions of kilos) :
-Refer to the table above to answer this question.If factor prices were to rise,causing the supply to change by 12 million kilos,what will be the new equilibrium price and quantity?
Definitions:
Credit Needs
The requirement for borrowing funds to finance purchases, investments, or to bridge gaps in cash flow.
Security Needs
The requirement to protect a nation, organization, or individual from various threats, including cyber attacks, terrorism, and theft.
Required Reserve Ratio
The ratio of reserves to deposits that banks are obligated by regulation to hold.
Excess Reserves
Bank reserves exceeding required reserves
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