There has been explosive growth in the demand for the green leafy vegetable kale in recent years as consumers learned of its health benefits. The demand curve has shifted significantly rightward. However, the price of a bunch of kale in the grocery store has been fairly stable. Draw a supply and demand diagram showing the market for kale, and show how the price of kale could remain stable in the face of such an enormous growth in demand. 1.) please plot the new supply and demand curves on a diagram and label the lines properly. 2.) please also indicate the new equilibrium point at the same price as the original equilibrium and label it.

There has been explosive growth in the demand for the green leafy vegetable kale in recent years as consumers learned of its health benefits. The demand curve has shifted significantly rightward. However, the price of a bunch of kale in the grocery store has been fairly stable. Draw a supply and demand diagram showing the market for kale, and show how the price of kale could remain stable in the face of such an enormous growth in demand. 1.) please plot the new supply and demand curves on a diagram and label the lines properly. 2.) please also indicate the new equilibrium point at the same price as the original equilibrium and label it.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter7: Demand And Supply

Section: Chapter Questions

Problem 23AA

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