Answered

Welcome to Westonci.ca, the place where your questions are answered by a community of knowledgeable contributors. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

In the north, if the price goes up by $0. 20 per pound, then the quantity supplied in the north goes up by 100 pounds per year. If the price of apples goes up by $0. 20 in the south, what will happen to the quantity supplied?.

Sagot :

If the price of apples goes up by $0.20 in the South, it means that; The quantity will increase by 100 pounds per year.

Demand and Supply

The graph showing the quantity of apples and the price is missing and I have attached it.

The lines in the graph attached are seen to be parallel and this denotes that they possess the same elasticity of supply.

Now, when two goods have the same elasticity of supply, it could mean two things;

  • Their quantity will decrease at the same rate in response to a decrease in price
  • Their quantity will increase at the same rate in response to an increase in price

Now, from the lines in the graph being parallel and having the same elasticity of supply, it means that the quantity will increase by 100 pounds in the South which is the same as the North when there was a similar price change.

Read more on supply and demand at; https://brainly.com/question/8082648

View image AFOKE88
Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Stay curious and keep coming back to Westonci.ca for answers to all your burning questions.