Compared to last year, the quantity of figs purchased has increased in the United States this year.The
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- Compared to last year, the quantity of figs purchased has increased in the United States this year.The United States Department of Agriculture (USDA) argues that this is because this year was a very good year for fig production in California where most US figs are grown and last year was not a very good year for fig production. The US Fig Growers Association (USFGA) disagrees and attributes the increase to ads they have been airing over the past six months illustrating the health benefits of fig consumption.
a. Graph USDA's argument on a supply and demand graph for figs.
b. Graph USFGA's argument on a supply and demand graph for figs.
c. Which explanation is more consistent with the facts if the price of figs increased 7% over the past year? Justify your answer.
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