Question
8. The northeastern United States experienced a drought during the apple growing season. How will this affect the supply schedule for apples? square
Answer
4.4
(154 Votes)
Julian
Expert · Tutor for 3 years
Answer
Decrease
Explanation
In economics, a supply schedule is a table that shows the quantity of a good or service that a producer could offer for sale at each different price point.Events like different natural conditions - such as drought - potentially alter the supply schedule because they decrease the ability of suppliers (e.g., farmers) to produce goods or services. In this case, the event described is a drought during the apple growing season in the northeastern United States. A drought reduces the availability of water, which is a critical resource for apple farming. As a result, the apple harvest is likely to diminish. This means that producers would find it difficult to supply the same quantity of apples as before for any given price. Hence, the supply schedule - the quantity supplied at each price - would shift to the left, indicating a decreased supply.