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In 2010, California had 100,000 acres of almonds planted.Price paid per lb in 2010 for almonds was $4.25/lb.In 2015, the price paid per farmed lb
In 2010, California had 100,000 acres of almonds planted.Price paid per lb in 2010 for almonds was $4.25/lb.In 2015, the price paid per farmed lb of almonds dropped to $2.50/lb.However, there were now 200,000 acres of almonds planted in California.Use the concepts of a shift in the supply curve versus a movement along the supply curve to explain why this increase in almond acreage does not represent a violation of the law of supply.
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