supply and demand

Over the past 20 years, the average price of avocados has more than doubled. Assume that the price of avocados is determined by the forces of supply and demand.  Using concepts that you have learned about supply and demand, explain whether the following is or is not a cause of the increase in price of avocado.   Restrictions on imports of avocados from Mexico were gradually lifted. Improved production methods allowed for slower ripening of avocados and therefore more avocados can be reliably shipped. Mexican food, which regularly features avocados, has become more popular.

For each of the following articles below, analyze the impact of a change in demand or a change in supply or both (or it may not necessarily illustrate a change) on price equilibrium price, market price) for the good under consideration and draw the appropriate graph for each article. Use D., S.. P., and O. to symbolize initial demand, supply, equilibrium price and quantity respectively. Use D,, S., P., and Q, to represent the new demand, supply, equilibrium price and quantity respectively Slaughter rates dropped in 2019 because of low farm gate prices and weak pork demand, which contributed to a decline in 2019 swine meat production (plg333.com. March 26, 2020)

If equilibrium price increases while equilibrium quantity decreases, then we know that: market demand has decreased. market demand has increased. market supply has decreased. market supply has increased.

What happens to the equilibrium price and quantity of coffee when there is a leftward shift of the supply curve for tea? Explain.  Explain why when the demand curve for a good is relatively elastic, a one percent increase in the price of the good will decrease total consumer expenditures on that good.