Initial and ending equilibrium price and quantity

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The crop of hops in the Yakima Valley has been greatly affected by the recent forest fires in the state of Washington, and craft breweries in the Northwest turn to hops from Germany as a substitute for Washington hops. How would you illustrate this change in the Washington hops market in supply-and-demand terms? Clearly label your graph, the shifts and/or movements, initial and ending equilibrium price and quantity.

Reference no: EM13868585

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