Meeting the needs of bereaved families struck by Covid-19 has pushed the industry in uncharted waters, says Janie duToit, spokesperson for the SA Flower Union. “At the moment, we are struggling to get flowers. There are more funerals than we are accustomed to.” Lamprecht said Covid-19 has been” traumatising stumbling block… The industry is scarred.” “As flower producers we must plan for the future, and you have to guess what people will need. But now, before

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question

Meeting the needs of bereaved families struck by Covid-19 has pushed the industry in uncharted waters, says Janie duToit, spokesperson for the SA Flower Union.
“At the moment, we are struggling to get flowers. There are more funerals than we are accustomed to.”
Lamprecht said Covid-19 has been” traumatising stumbling block… The industry is scarred.”
“As flower producers we must plan for the future, and you have to guess what people will need. But now, before the first lockdown last year, farmers had to throw away so many flowers during the hard lockdown. We were not allowed to sell, flowers initially. They have become hesitant to plant.”
The result has been a spike in prices, adding to the pressure of already financially-sapped customers.
Adopted from: SA flower industry battling to meet soaring demand as funerals surge. By Riyaz Patel

With the aid of a graph, explain the overall impact of these changes on the equilibrium price and quantity of wreaths.

 

Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Rental Agreement
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education