Problem
After you have studied Economics in the News on pp. 74 - 75, answer the following questions.
a. What would happen to the price of bananas if TR4 spread to Central America?
b. What are some of the substitutes for bananas and what would happen to demand, supply, price, and quantity in the markets for these items if TR4 spread to Central America?
c. What are some of the complements of bananas and what would happen to demand, supply, price, and quantity in the markets for these items if TR4 spread to Central America?
d. When the price of bananas increased in 2008, did it rise by as much as the rise in the price of oil? Why or why not?
e. Why would the expectation of the future arrival of TR4 in Central Americas have little of no effect on today's price of bananas?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.