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Asked by Nikki Tajdar on May 05, 2024

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(Figure: Shifts in Demand and Supply III) Use Figure: Shifts in Demand and Supply III.The figure shows how supply and demand might shift in response to specific events.Suppose a spring frost destroys one-third of the nation's artichoke crop.Which panel BEST describes how this will affect the market for mayonnaise,which is a complement to artichokes?

A) Panel A
B) Panel B
C) Panel C
D) Panel D

Mayonnaise

A thick, creamy sauce or dressing made from oil, egg yolks, lemon juice or vinegar, and seasonings.

Spring Frost

An unexpected freeze during springtime that can damage or kill new plant growth and negatively impact agricultural production.

Artichoke Crop

The agricultural production focused on growing artichokes, a type of thistle cultivated as food.

  • Appraise the impact that external influences have on maintaining equilibrium in market prices and quantities.
  • Compare and contrast complements and substitutes within the context of consumption and their ramifications in the marketplace.
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ZK
Zybrea KnightMay 07, 2024
Final Answer :
D
Explanation :
Panel D best describes the situation because it shows a decrease in demand for mayonnaise, which is a complement to artichokes. Since the artichoke crop is destroyed, fewer artichokes are available, leading to a decrease in demand for mayonnaise, as people are less likely to buy mayonnaise when they have fewer artichokes to consume it with. This is represented by a leftward shift in the demand curve.

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