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Civil war erupts in Ivory Coast (largest global producer of cacao) following an attempted coup. At the same time headlines in newspapers around the world report the use of child slaves in the harvest of cacao in West African countries. According to the supply and demand model, what will be the likely impact of these two events on the equilibrium price and quantity of cacao in the global market?
a. Equilibrium price will decrease, the change in equilibrium quantity is ambiguous
b. Equilibrium price will increase, the change in equilibrium quantity is ambiguous
c. Equilibrium quantity will decrease, the change in equilibrium price is ambiguous
d. Equilibrium quantity will increase, the change in equilibrium price is ambiguous

Sagot :

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