Question: The table below represents the world supply and demand for natural vanilla in thousands of pounds. A large portion of vanilla is grown in Madagascar

The table below represents the world supply and demand for natural vanilla in thousands of pounds. A large portion of vanilla is grown in Madagascar and comes from orchids that require a lot of time to cultivate. The sequence of events described below actually happened, but the numbers have been altered to make the calculations easier (See James Altucher, "Supply, Demand and Edible Orchids,"Financial Times, September 20, 2005, p.12). Assume the original supply and demand curves are represented in the table below.

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