BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Florida, California, and North Carolina are the major producers of tomatoes in the United States. The market price of tomatoes is reliant on several factors such as weather, location, and consumers’ age as well as preferences. In addition, the market price of tomatoes influences the consumption of this vegetable.

Detailed explanation-2: -A decrease in demand will cause the equilibrium price to fall; quantity supplied will decrease. An increase in supply, all other things unchanged, will cause the equilibrium price to fall; quantity demanded will increase. A decrease in supply will cause the equilibrium price to rise; quantity demanded will decrease.

Detailed explanation-3: -Surplus rains in the key tomato-growing regions of Karnataka, one of the key producers of the vegetables, in the last few days have adversely impacted the arrivals in the mandis, thus pushing up prices.

Detailed explanation-4: -Tomato prices will continue to rise for next 45-50 days, says CRISIL Research. Excess rains in key supplier states like Karnataka, Andhra and Maharashtra have damaged the crops and thereby reduced the supply.