Make clear graphically how this market might be affected
Hormone free dairy milk has been found to be in all probability further helpful and healthful. ponder for this product in South Africa and reply the questions that observe.
Question 1) make clear and current graphically how this market might be affected if South Africans choose to be further healthful.
Question 2) make clear and current graphically how this market might be affected if there’s a rise throughout the number of dairy farmers that produce hormone-free milk and on the same time south african prospects choose to be further healthful
Question three) if the income elasticity of demand for hormone free milk is estimated at +5.zero, briefly define what this value means and what it implies regarding the nature of the product