Answer to Question #62756 in Microeconomics for Ash
A storm destroys half the banana crop. Is this event more likely to hurt banana farmers if the demand for bananas is very elastic or very inelastic?
This event will hurt banana farmers if the demand for bananas is very elastic. The reason is the farmers will increase price for bananas. So, in the case of very elastic demand the consumers will buy much less bananas than earlier. If the demand for bananas is very inelastic it will slightly change under the price rising.
The clock is ticking. The coffee is brewing. The stress intensifies. And all you’ve written in the past 15 minutes…
APPROVED BY CLIENTS
I was a little unsure if this would work to get my assignments completed with a good grade on time, but it was great. The expert finished all my assignments on time and received 90 to 100% on all of them. I will for sure use them again. Thanks guys