Use the following information to work Problems 8 to 10. Maple-syrup makers strike gold Sugaring season in

Question:

Use the following information to work Problems 8 to 10.

Maple-syrup makers strike gold Sugaring season in Vermont is going full blast. Vermont, the biggest U.S. syrup producer, produces about 500,000 gallons a year. In 2007, maple syrup cost an average of $35 a gallon; this year, the price is $45 a gallon. Canada is usually a huge producer, but with a poor season it has seen a 30 percent drop in production. As consumers turn to natural and organic products and buy locally made food, demand for maple syrup has rocketed.

Source: USA Today, March 30, 2009

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Foundations Of Microeconomics

ISBN: 9780063076280

7th Global Edition

Authors: Bade, Robin;Parkin, Michael

Question Posted: