In the following situation, briefly describe what happens to (1) supply, (2) demand, (3) guantity, and (4) price in each relevant market. If one or more of these things do not change, be sure to note that, too. 

Russia invades Ukraine and sets up a blockade around Odesa, preventing exports of wheat from Ukraine, which is one of the world's largest wheat (X+0+V) to the market for(a)Wheat; (b) Soybeans (another major food staple not produced mainly in the united States and Brazil).

 

Transcribed Image Text:

Price ($ per lb.) 12 10 8 9 4 2 0 0 2 Market for Ahi Poke Ahi Poke (thousand lbs.) Supply 6 Demand 8 Price ($ per lb.) 12 10 8 9 4 2 0 0 2 Market for Ahi Poke Ahi Poke (thousand lbs.) Supply 6 Demand 8

Answer rating: 100% (QA)

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