An unusually cold January in Florida destroyed entire fields of tomatoes. Floridas growers are shipping only a

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An unusually cold January in Florida destroyed entire fields of tomatoes. Florida’s growers are shipping only a quarter of their usual 5 million pounds a week. The price has risen from $6.50 for a 25-pound box a year ago to $30 now.
a. Make a graph to illustrate the market for tomatoes in January 2009 and January 2010.
b. On the graph, show how the events in the news clip influence the market for tomatoes.
c. Why is the news “bad for tomato lovers”?
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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

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