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Impact of drought on food supply to northern territory

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Reference no: EM132481998

Victoria is the food basket for Australia. In 2017, Victoria witnessed a severe drought that is reported to be the worst in many years. Assume all factors constant meaning that there is no external influence in the market except the drought.

(a) Use the demand and supply model figure below to explain the impact of the drought on food supply to Northern Territory, a state that relies on food supplies from Victoria.

??????Drought Demand and supply model

Reference no: EM132481998

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