Shoppers bought strawberries in March for $1.25 a pound rather than the $3.49 a pound they paid last year. With the price so low, some growers plowed over their strawberry plants to make way for spring melons; others froze their harvests and sold them to juice and jam makers.
a. Explain how the market for strawberries would have changed if growers had not plowed in their plants but offered locals “you pick for free.”
b. Describe the changes in demand and supply in the market for strawberry jam.