Managerial Economics & Organizational Architecture 6th Edition by James Brickley , Clifford Smith ,Jerold Zimmerman

Exercise 23

Suppose there has been a storm in Nebraska that has destroyed part of the corn crop in the field. The demand curve for corn has not changed. As a result, the market clearing prices and quantities before and after the storm are:
(The subscripts a and b refer to "after the storm" and "before the storm.") subscripts a and b refer to "after the storm" and "before the storm.")