Dear Lower Sixth
This week's homework is some practise on supply and demand factors. It is in two parts. The first is to answer ALL the questions on a previous post about sugar. The post and questions are here.
The second is this :
This BBC article explains that the price of milk in the EU is falling
http://news.bbc.co.uk/1/hi/business/8289976.stm
http://news.bbc.co.uk/1/hi/business/8289972.stm video
a) Using a diagram, explain why the price of milk is falling
b) Why are farmers dumping milk and witholding supplies?
c) Using a diagram, show the effect of farmers witholding supplies on the price of milk
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