Answer:
A farmer is the one that owns the cattle and is ready to sell it on the market demand, while the meatpacker is the one who buys the product and sells it in different parts to the end consumers.
Since they both are using the commodity market to reduce the risk, the farmer will be the one who agrees to sell the cattle in the future at a fixed rate, while the meatpacker will be the one who agrees to buy the cattle in the future at a specified price fixed by him.
Hope this helps. ThankYou.
Answer:
The supply curve will shift to the right.
Explanation:
Whenever there is increase in supply of goods, due to any reasons the supply curve moves to right.
Here, as with the introduction of new technology, the cost of widgets one of the key inputs to the production of whatchamacallits, is reduced,
Accordingly, with the reduction in price of inputs the cost for manufacturers will decrease and they will produce more.
As a result the supply for the product whatchamacallits will increase, and with that the supply curve will move right.
<span>I think the answer is: Companies like coca-cola and geico have formed c</span>ustomer insights teams. Teams like that make researches to find out human trends and behaviors. It helps to improve quality of production and customer services.
