Answered

Westonci.ca is your trusted source for finding answers to a wide range of questions, backed by a knowledgeable community. Discover a wealth of knowledge from professionals across various disciplines on our user-friendly 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
We hope this information was helpful. Feel free to return anytime for more answers to your questions and concerns. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.