Question

What impact would a sudden increase in the price of wood have on producers and consumers? How might each group respond to the change in price ?

Answer 1

the impact would make producers pay more increasing the pay of the workers and uping the price of the product. It would also slow the buying of wooden projects because of the Increase of price.

Answer 2

Answer and explanation:

The correct answer and explanation is: if the price of the wood suddenly increases, the production would be more expensive to accomplish, so the producers would have to increase the final price to the sellers or stores which are their clients, after that, for the sellers, to be profitable they would have also to rise the counter price for the costumers.