US ag and food markets are often heavily influenced by seasonality and holiday demand. Many (but...

US ag and food markets are often heavily influenced by seasonality and holiday demand. Many (but not all) fresh pumpkins are produced for Halloween, and farmers time most of their production so that their pumpkins are ripe and ready to pick within 10 days before Oct. 31. Draw two graphs to show how Demand and Supply curves shift over time – the first graph is for Demand (D) and Supply (S) seven days before 31, and the second graph is for Demand and Supply three days after Oct. 31. Briefly explain any changes in the D and S curves, as you have drawn them.

Expert Solution

In the above diagrams, we assume a case of proportional change which basically means that the change in demand is equal to change in supply and vice versa.

Case 1: A week before Halloween, the demand for pumpkins will increase and hence, farmers also produce in a way so that they can supply enough when the demand rises. Therefore, there is a rightward shift in demand and supply curve.

Case 2: After Halloween, the demand and supply for pumpkins will fall as compared to a week before Halloween and hence, there is leftward shift in both demand and supply curves.

Please refer to the handwritten notes for detailed solution

***Please please like my answer. I really need thumbs up. Will be so grateful. Thank you :)

Rahul Sunny answered 2 years ago

Financial markets are the most heavily regulated markets in the US. Why is this?

45. Although many people buy fast food because it is cheap, quick and heavily advertised, these...

45. Although many people buy fast food because it is cheap, quick and heavily advertised, these meals can contain large amount of sodium or salt. Some researchers suggest that the amount of sodium is linearly related to total calories. A sample of Burger King’s sandwiches was obtained, and the total calories (x) and sodium (y, in grams) for some serving was measured. (The data is given in the table at the end). a) Draw a scatter diagram and identify any...

Many financial institutions borrow heavily in the money markets using mortgages and mortgage-backed securities as collateral....

Many financial institutions borrow heavily in the money markets using mortgages and mortgage-backed securities as collateral. Write a short essay about the lessons of the credit crisis to the deficit units and the surplus units who participate in the money markets? Should money markets be regulated to a greater degree to ensure proper collateral in money markets?

One thing moving the US equity markets is supply and demand, expatiate on this.

The Covid crisis has disrupted many markets both on the supply and demand sides. Identify markets...

The Covid crisis has disrupted many markets both on the supply and demand sides. Identify markets that have been negatively impacted on the supply side. What happened? What caused the disruption? Have there been surpluses or shortages in these markets? Have any markets thrived? If so, which markets have done well and why? Note: In order to have a market, there must be both buyers and sellers. Demand reflects the behavior of buyers. Supply represents the behavior of producers and...

Brazil nut price rises – a case study of demand and supply Food prices often rise...

Brazil nut price rises – a case study of demand and supply Food prices often rise or fall with good or bad harvests or because of a change in demand. A recent example is the price of brazil nuts, which by May this year had risen over 60% on European markets. Part of the reason for the price rise has been on the demand side. Consumption of brazil nuts has increased as more people switch to healthier diets. This includes...

All products have different price demand elasticities. For example, many food items have elastic demand due...

All products have different price demand elasticities. For example, many food items have elastic demand due to the substitutes available. Select a good or service (NOTE: Do not pick a class of goods but a specific good) that has not already been selected by another student and describe in three separate short paragraphs: First paragraph: The good's or services' price demand elasticity and income elasticity. Discuss which of the elasticity rules you used to determine your answer. Note - do...

In many of the product markets discussed, the higher prices during “high demand” times also reflect...

In many of the product markets discussed, the higher prices during “high demand” times also reflect an increased cost or difficulty supplying the product during those times due to capacity constraints or higher input prices. Provide at least three examples and briefly discuss why costs might go up during “high demand” periods. (Recall that capacity constraints can be thought of as a very high MC above some output level!) Can you think of any examples of markets where time-varying prices...

Question