Discussion Questions:

  1. What elasticity concepts apply to the product?
  2. Analyse the firms' strategies in light of these elasticities which you identified.
  3. Are there other factors which can inform your analysis?

Macroeconomics case study

Read the article In Canada, the 8-Dollar Cauliflower Shows the Pain of Falling Oil Prices

Discussion Questions:

  1. Explain the main factor influencing the increase in higher cauliflower prices.
  2. Use a diagram to show how higher world oyster prices are leading to shortages in Canada.

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