Question

​Historically, the production of many perishable​ foods, such as dairy​ products, was highly seasonal.​ Thus, as the supply of those products​ fluctuated, prices tended to fluctuate tremendouslylong dash—typically by 25 to 50 percent or morelong dash—over the course of the year. One impact of mechanical​ refrigeration, which was commercialized on a large scale in the last decade of the nineteenth​ century, was that suppliers could store perishables from one season to the next. Economists have estimated that as a result of refrigerated​ storage, wholesale prices rose by roughly 10 percent during peak supply​ periods, while they fell by almost the same amount during the off season.

Answer 1

Answer:

We have to select the supply curve graph that correctly depicts the situation.

I have provided the graphs in the attachment below.

The correct answer is the graph C

Explanation:

When factors other than price increase the supply of a good, the supply curve shifts to the left. Mechanical refrigeration is an advance in technology that increases the amount of dairy products that producers can supply at any given price, therefore, the supply curve shifts to the right.

Demand stays the same, and benefits from lower prices (and from smaller fluctuations in price).