Principles of Economics ECON1008 Applied Writing Assignment (Part 2) Semester 3, 2017 1. This assignment is due on week 5 Thursday 30th November 2017 (12noon). 2. It is worth 10% of your overall...

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Answer the following questions:
1. Using the influences of price elasticity of demand, make a conclusion on the price elasticity of
demand of pineapples for a pineapple juice producer. Based on your conclusion, explain how
the price change in the market will affect the total revenue of pineapple farmers.




2. Explain 2 methods the government can use to help the pineapple producers




Principles of Economics ECON1008 Applied Writing Assignment (Part 2) Semester 3, 2017 1. This assignment is due on week 5 Thursday 30th November 2017 (12noon). 2. It is worth 10% of your overall assessment. 3. ALL assignments need to be submitted via TURNITIN. 4. The word limit is 500 words. 5. You will be required to support your arguments with information from a range of sources. Failure to cite properly is evidence of academic misconduct and will result in marks being deducted. You can access guides and information about referencing from the following link: http://www.unisa.edu.au/ltu/students/study/referencing/harvard.pdf 6. Extensions to assignment submission dates are not granted for some courses. Any arrangements in place for extensions will be indicated by the Course Coordinator or Lecturer. Requests closer to the submission date need to be negotiated with the Course Coordinator, and will require at minimum, a medical certificate or other documentation regarding your reason for seeking an extension. 7. NO late assignments are allowed. 8. Assignments and feedback will be returned to you within two weeks of you submitting your assignment. http://www.unisa.edu.au/ltu/students/study/referencing/harvard.pdf Instructions: 1. You will need to answer each question individually and not in a whole essay. 2. You will need to include well-labelled diagram/s in your answers. 3. Please remember to include a reference list in your essay. Failure to do so will result in possible plagiarism. Read the attached news article and answer the questions following it. Pineapple farmers in oversupply this winter after summer heatwave By Megan Hendry Posted 30 June 2017 at 5:31 pm  Consumers are being encouraged to buy a slice of Queensland sunshine this winter, with the state's pineapple industry in oversupply. Farmers are picking twice the amount of fruit as usual, thanks to the second-hottest summer on record. Peter Sherriff owns a 250-hectare pineapple farm at Yeppoon in central Queensland. He said the summer heatwave earlier this year had brought forward his spring crop, which he usually picked in September. "I can't recall it being this bad. You always have a few natural flowering in amongst your winter stuff and you get through that, but this year we've had blocks and blocks of it have gone where they don't normally go," he said "The quality is great, just they're a bit smaller because they're on a smaller plant from the long hot summer we had." Mr Sherriff, who has been pineapple farming for 40 years, said his crop would have been worth twice as much if it had been picked in spring, when demand and prices were high. "We'll have a shorter spring crop now where we actually sell and make a bit more money," he said. http://www.abc.net.au/news/2017-03-01/brisbane-summer-a-record-scorcher-bureau-meteorology-says/8314478 http://www.abc.net.au/news/2017-03-01/brisbane-summer-a-record-scorcher-bureau-meteorology-says/8314478 "Winter is always a harder time to sell fruit." Twice as many pineapples on market Tropical Pines markets and distributes about 50 per cent of the country's pineapples. Director Joe Craggs said the extra supply was causing problems on several fronts, with the usual winter crop also ripening early. "All of that fruit that was going to come in July has been brought on by this wonderful warm weather we're having, which means we've got twice at much fruit right now," he said. "Traditionally in winter we wouldn't have that much fruit, but with the events that have happened [we have] twice as many pineapples." Mr Craggs said the industry was working hard to increase winter sales figures. "Pineapple is full of Vitamin C and at this time of year, a pineapple is probably your best Mother Nature's flu jab," he said. "We're encouraging all our retailers to support the farmers and to get in and get a good ticket on the pineapples and get in some good offers for consumers." Low prices for consumers Mr Craggs said pineapple prices were expected to be between $2 and $3 each over the next several weeks. "That's probably up to 50 per cent off the normal price, which is tough for growers but what's important is we get consumer support," he said. Mr Craggs said the urgency to get the fruit to market was further compounded by the temporary closure of the state's cannery. "Golden Circle have their shutdown seasonally at this time of year because there's not much fruit around," he said. "They'll close for about six weeks which is normal, that's just something the industry works around. "Mother Nature doesn't recognise that and unfortunately she's thrown us a bit of a challenge this winter." With the rush to get the fruit picked and processed, local students are providing a much- needed labour boost. Twins James and Alex Toolen, 14, are working in the Tropical Pines packing sheds at Yeppoon on their school holiday break. "I'm putting the hot glue onto the pineapples so then they can put the tags on them and Answer the following questions: 1. Using the influences of price elasticity of demand, make a conclusion on the price elasticity of demand of pineapples for a pineapple juice producer. Based on your conclusion, explain how the price change in the market will affect the total revenue of pineapple farmers. [5 marks] 2. Explain 2 methods the government can use to help the pineapple producers. [6 marks]
Answered Same DayNov 28, 2019ECON1008

Answer To: Principles of Economics ECON1008 Applied Writing Assignment (Part 2) Semester 3, 2017 1. This...

David answered on Dec 27 2019
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