Using the data presented in Figure 8.22, which shows the conditions across Kerala's beach markets on January 14, 1997, the task is to analyze this information and form a conclusion about how bargaining power impacted the prices on that particular day.

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Figure 8.22, titled 'Bargaining power and prices in the Kerala wholesale fish market (14 January 1997)', visualizes the varied market outcomes for fishermen along the Kerala coast on that specific day. The figure plots price against measures of excess supply (boatloads destroyed) and excess demand (unsatisfied buyers), revealing significant market imbalances like the large surplus in Badagara and severe excess demand in Chombala. The data also shows that among the seven markets where supply and demand were balanced (located on the vertical axis), prices still varied widely from Rs4 to over Rs7 per kilogram. A specific detail from the data is that two separate markets shared an identical outcome, with a price of Rs6.2 per kilogram.

Bargaining Power and Prices in the Kerala Wholesale Fish Market (Figure 8.22, 14 January 1997)

To cite the ebook, use The CORE Econ Team 2023 The Economy 2.0: Microeconomics Open access e-text https://core-econ.org/the-economy/.

To cite a unit, use The CORE Econ Team 2023 The Economy 2.0: Microeconomics Open access e-text https://core-econ.org/the-economy/ Unit [unit number] (url).

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