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ECO11 Principles Of Economics

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Answers: A.Major factor contributing to the price of tomatoes to rise in Australia in a perfect competitive market. In Bowen, after the Cyclone Debbie hits the area it affects the tomatoes production which is 95% of the Australian market. Since the damage in Bowen is expected to be significantly large it will create a shortage especially for the tomatoes (Basar and Pau, 2014). As expected in a perfect competitive market, shortage in tomatoes...

Read More arrow Tags: Australia Hope Valley Economics ECO11 Principles of Economics University of Queensland MBA 

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