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    Impact of disaster on price of products

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    Please help with the following problem.

    Say there is a natural disaster, which wipes out all of the tomato plantation of one country. Therefore, there is a drastic rise in the price say from $6 to $15 a kilo. How has the disaster caused such a drastic price rise in the short-run and how will the outcome be different in the end. How would I show this in an economic model?

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    https://brainmass.com/economics/short-and-long-run-cost-functions/impact-disaster-price-of-products-394686

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    Question:

    Say there is a natural disaster, which wipes out all of the tomato plantation of one country. Therefore, there is a drastic rise in the price say from $6 to $15 a kilo. How has the disaster caused such a drastic price rise in the short-run and how will the outcome be different in the end. How would i show this in an economic model?

    Solution:

    How has the disaster caused such a drastic price rise in the ...

    Solution Summary

    This solution helps with a problem regarding the impact of disaster on the price of products. The solution helps with developing an economic model to illustrate this.

    $2.19