Question:

How elastic is the demand for fresh produce in the short run? explain?

by  |  earlier

0 LIKES UnLike

How elastic is the demand for fresh produce in the short run? explain?

 Tags:

   Report

2 ANSWERS


  1. The demand for fresh produce is not very elastic in the short run. People know which foods are good for them and which they like. Even a spike in buying pumpkins for Halloween in October, is predictable for growers.


  2. I just answered this for someone else.

    Produce is inelastic in the short run. Elasticity measures how "sensitive" quantity is to a change in price. Short run in agriculture generally means post harvest or at least post planting. At that point it does not matter much what happens to price. If you have harvested the plants and the price goes up, you may want to have more plants to sell but you can't.

    So SR inelastic

    LR more elastic

Question Stats

Latest activity: earlier.
This question has 2 answers.

BECOME A GUIDE

Share your knowledge and help people by answering questions.