Earlier this year it was reported that the supply of avocados(鳄梨) has fallen because of weather conditions. “…this time last year 360,000 trays were being produced per week, but that figure has fallen below 100,000 trays in recent weeks”. What information would you need about the market for avocadoes to assess whether growers of avocadoes as a group were hurt or helped by these poor weather conditions? Explain.  If the demand for avocados is less price elastic than the supply of avocados, what short term impact would this have on the price of avocados (include a graph to help demonstrate your answer)

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Asked Nov 7, 2019
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Earlier this year it was reported that the supply of avocados(鳄梨) has fallen because of weather conditions. “…this time last year 360,000 trays were being produced per week, but that figure has fallen below 100,000 trays in recent weeks”.

 

What information would you need about the market for avocadoes to assess whether growers of avocadoes as a group were hurt or helped by these poor weather conditions? Explain. 

 

If the demand for avocados is less price elastic than the supply of avocados, what short term impact would this have on the price of avocados (include a graph to help demonstrate your answer)

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(1) The information needed about the market for avocado is given below.

  • The weather condition in the present and past year.
  • How muc...

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