If the price of almonds changed as a result of a change in the supply of almonds,
Question:
If the price of almonds changed as a result of a change in the supply of almonds, is the demand for almonds elastic or inelastic? Explain your answer.
Almonds galore!
The quantity of almonds harvested in 2008–2009 was expected to increase by 22 percent, while total receipts of growers was expected to increase by 17 percent.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
To determine whether the demand for almonds is elastic or inelastic in response to a change in suppl...View the full answer
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Was the price of almonds expected to rise or fall? Did a change in the supply of or demand for almonds bring about this expected change in the price? Almonds galore! The quantity of almonds harvested...
-
25) What is measured by the price elasticity of supply? A) The price elasticity of supply measures how responsive producers are to changes in the price of other goods. B) The price elasticity of...
-
1. Which of the following is the best definition of economics? A. The study of how individuals and societies choose to use the scarce resources that nature and previous generations have provided B....
-
Please answer the following e-commerce problem in at least 350 words (I encourage you to write more to fully respond to the prompt). This assignment will be graded. Electronic Commerce Problem: Erin...
-
Thorndark, Inc., produces sandals. Data for the second quarter are as follows: Required: Calculate the flexible budget cost of materials. Master Budget Actual Data Budgeted production: Actual...
-
Find the value of the saturated temperature for nitrogen by linear interpolation in table B.6.1 for a pressure of 900 kPa. Compare this to the value given by the computer software.
-
A certain wire has a circular cross section of radius \(R\) and carries a current \(I\). Suppose that the charge carriers all move along the cylindrical surface of the wire, not through its...
-
Clorox Company is a leading producer of laundry additives, including Clorox liquid bleach. In the 6 months ended December 31, 2011, net sales of $2,526 million produced net earnings of $235 million....
-
1. Which of the following is a CORRECT statement? 2. 3. (a) 2.3056+10.138-7.4671 = 4.9765 (b) 2.38 x 1.0 = 2.38 8.05 (c) -=2.6 3.1 (d) (1.11 0.1) x 9.0 = 9.0 A projectile travels at 0 below...
-
The 40,000 tickets for the March 6 gig sold out in seven minutesa record. Many people who camped out overnight missed getting a ticket. What method was used to allocate AC/DC concert tickets? Was it...
-
Compare the elasticity implied by the data for the period from September 2004 to September 2005 with that implied by most studies. What might explain the difference? Why the tepid response to higher...
-
Eagle Resources, which uses the FIFO inventory costing method, has the following account balances at May 31, 2015, prior to releasing the financial statements for the year: Merchandise Inventory,...
-
What statutory situations fall outside employment-at-will?
-
Some researchers argue that the idea of product differentiation is oversold in mature product markets. Review the debates online regarding differentiation and distinctiveness. What is your view?
-
General Housing Assistance was incorporated as a nonprofit organization that provides low-cost housing for families who have been economically dislocated because of the downsizing of a company or the...
-
Discuss the impact on other retail formats of the growth of online retailing.
-
Soon after the birth of their second child, misfortune fell on the lives of Kurt and Leah Lyons. Kurt got laid off, the landlord raised their rent, they received notice that their car was about to be...
-
Suppose Intel stock has a beta of 1.6, whereas Boeing stock has a beta of 1. If the risk-free interest rate is 4% and the expected return of the market portfolio is 10%, according to the CAPM, a....
-
Solve the relation Exz:Solve therelation ne %3D
-
Which of the events increase potential GDP and which decrease potential GDP? Use the following list of events that occur one at a time to work The Middle East cuts supplies of oil to the United...
-
Which of the events increase potential GDP and which decrease potential GDP? Use the following list of events that occur one at a time to work The Middle East cuts supplies of oil to the United...
-
Suppose that the government introduces a minimum wage of $0.80 an hour. What is the real wage rate, the quantity of labor employed, potential GDP, and unemployment? Does the unemployment arise from...
-
Ben is a social psychologist who studies marriage. He is interested in studying whether cohabitating (living together) before marriage is associated with relationship satisfaction after getting...
-
How do economic systems and market forces intersect with societal values, shaping patterns of consumption, production, and resource allocation, and influencing notions of individual success and...
-
The sole proprietor of the Milwaukee Machine Company receives all accounting profits earned by her firm. She has a standing salary offer of $35,000 a year to work for a large corporation. If she had...
Study smarter with the SolutionInn App