Question

Please fill in Blanks and explain the reasons why, thanks

1 This is a small case study on the banana Market in Venezuela, we can see below that there are 10 factors that affect the banana market. Assume that bananas are a normal good using the letters A-H below (Note that a single letter can be used more than once) Specify what each letter will result in

1. an increase in demand
2. an increase in supply
3. an increase in quantity demand
4. an increase in quantity supplied
5. a decrease in demand
6. a decrease in supply
7. a decrease in quantity demand
8. A decrease in quantity supplied

_______ the price of Plantains (a substitute) increases

_______ Medical studies conclude that banana cause intestinal problems

_______ Snow in Africa kills most of the banana crops

______the price of Bananas decreases

_____ Families average income in Venezuela decreases

_____ Banana importers in Venezuela agree at a convention to charge higher prices to increase profits

____the price of banana pudding increases

___ the Venezuelan government imposes a special tax on banana producers/importers to raise government revenue     

___ war breaks out between Africa and Mexico, who are major banana producers

___ the Venezuelan government provides a subsidy to operate to operate an experimental banana plantation in the balkan islands greenhouse

Answer 1