Prior to beginning work on this discussion forum, review Chapters 1, 2, and 3 of your textbook, Principles of Microeconomics, and the materials on the "Weekly Lecture" page. The demand for plums is highest during summer and lowest during winter. Yet plum prices are normally lower in summer than in winter. Based on this scenario, discuss the following:

Discuss what happens to the supply of plums, from winter to summer, for the equilibrium price to fall. Include a generic supply/demand graph that shows the equilibrium point for plums during the summer and the winter. Discuss the shape of the production possibility curve if the farmer can only plant plums or peaches on his farm. Give reasons.

Principles of Microeconomics - Ch 1: Economics, Economic Methods, and Economic Policy (uagc.edu)

Principles of Microeconomics - Ch 2: Markets, Governments, and Nations: The Organization of Economic Activity (uagc.edu)

Principles of Microeconomics - Ch 3: Supply and Demand: The Basics of Economic Analysis (uagc.edu)

Week 1 - Weekly Lecture: ECO204: Principles of Microeconomics (BAK2336A) (instructure.com)