Explain what the effect price increase will have on market, Microeconomics

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Explain what the effect price increase will have on market

Problem

In the November 2019 the price of pork in China increased by more than 100% as a result of the African swine fever crisis which has destroyed half of the pigs in the country. Source: Zou Sissy, (2019).

Using supply and demand analysis graph and explain what the effect the price increase will have on the market for pork in China and on the market for beef in China.

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Microeconomics: Explain what the effect price increase will have on market

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Microeconomics: Explain what the effect price increase will have on market

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