Elasticity of Pecan Market The clause Big omission down Wont Reduce Pecan Prices is round how the merchandise for pecans affects the both the wholesale marketplace and the retail market. The article describes how pecans be relatively inelastic well-nigh major holidays, much(prenominal) as Thanksgiving and Christmas. It is stated that there was a cl one million million pound increase in pecans from the previous year. Since there was such a great increase in quantity supplied, the harm decreased. Since the demand for pecans is relatively inelastic, consumers are not affected by a change in price.
This article also describes the balance betwixt the wholesale market and the retail market for pecans. wholesale markets produce the pecans, and sell them to retailers for a first gear price; between seventy-five to lxxxv cents per pound. While the retailers purchase the pecans for a low price, they turn around and sell them to consumers for about five generation the price they compensable for them. The pecan producers have no contro...If you compliments to get a full essay, order it on our website:
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