you love pecan nuts. you hear on the news that 60% of the pecan nut crop in the Limpopo province has been wiped out which will cause the price to triple by the end of the year. as a result

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17-03-2022
Social Studies

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you love pecan nuts. you hear on the news that 60% of the pecan nut crop in the Limpopo province has been wiped out which will cause the price to triple by the end of the year. as a result

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Parrain Parrain · Answer 1 · 2022-03-23T10:49:57+01:00

The result of the price of the pecan nut tripling is that you will demand less by the end of the year.

Why would you demand less?

The law of supply and demand posits that for normal goods, the price is inversely proportional to the quantity demanded.

This means that when the price of goods rise, demand will drop. With price of the pecan nut rising, you would therefore demand less of the crop.

Find out more on the law of supply and demand at https://brainly.com/question/4803223.