Historically. the production of many perishable foods, such as dairy products, was highly seasonal Thus, as the supply of those products ?uctuated, prices tended to ?uctuate tremendously?typically by 25 to 50 percent or more?over the course

of the year. One impact of mechanical refrigeration, which was commercialized on a large scale in the last decade of the nineteenth century, was that suppliers could store perishables from one season to the next. Economists have estimated that as a result of refrigerated storage. wholesale prices rose by roughly 10 percent during peak supply periods, while they fell by almost the same amount during the off season, Source: Lee A. Craig, Barry Goodwin, and Thomas Grennes, "The Effect of Mechanical Refrigeration on Nutrition in the u.s.," Social Science History, Vol. 28, No. 2 (Summer 2004), pp. 321-318.

Choose the graph below that corresponds to the change for the peak season.

\f