Japanese fans of cake, buttered toast and Hollandaise sauce may need to start hoarding soon. The island nation is facing another likely shortage of butter this fiscal year, according to a report by the Japan Dairy Association. It’s the second year of butter shortages that last year left supermarket shelves dry , amid tight import controls and falling domestic production of raw milk. Shortages are usually most acute near the Christmas season when consumers buy cakes. The JDA estimates a 7,100 ton shortage of butter in the year that started in April. The organization estimates domestic demand will rise 0.9% on year to 74,700 tons. Also fueling the shortages is a long-term fall in raw milk production in Japan. Producers prioritize making drinking milk first, often leaving little left to turn into butter. Raw milk production has fallen 14% from its peak in the year that started in April 1996 through fiscal 2013, according to data from the agriculture ministry. Fill in the Answer sheet for the article. Make sure you fill in the graph by marking it as a decrease or an increase in each box. Leave it blank if there is no change.  Use a ?  If you can’t tell if there is a decrease or an increase. Use the graphs attached below. Graph #   Graph Name   Pe   Q   ∆ in D   ∆ in Qd   ∆ in S   ∆ Qs

Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter2: Some Tools Of The Economist
Section: Chapter Questions
Problem 2CQ
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PLEASE FILL IN THE CHART BELOW FOR THE ARTICLE!!

Microeconomics

For the article, write the number of the graph that best describes what happened. Fill in only the appropriate boxes in each chart for each article and be sure and indicate if it is an increase or a decrease.  

Japan Faces Butter Meltdown

 

Japanese fans of cake, buttered toast and Hollandaise sauce may need to start hoarding soon.

The island nation is facing another likely shortage of butter this fiscal year, according to a report by the Japan Dairy Association.

It’s the second year of butter shortages that last year left supermarket shelves dry , amid tight import controls and falling domestic production of raw milk. Shortages are usually most acute near the Christmas season when consumers buy cakes.

The JDA estimates a 7,100 ton shortage of butter in the year that started in April. The organization estimates domestic demand will rise 0.9% on year to 74,700 tons.

Also fueling the shortages is a long-term fall in raw milk production in Japan. Producers prioritize making drinking milk first, often leaving little left to turn into butter. Raw milk production has fallen 14% from its peak in the year that started in April 1996 through fiscal 2013, according to data from the agriculture ministry.

Fill in the Answer sheet for the article.

Make sure you fill in the graph by marking it as a decrease or an increase in each box.

Leave it blank if there is no change. 

Use a ?  If you can’t tell if there is a decrease or an increase.

Use the graphs attached below.

Graph #

 

Graph Name

 

Pe

 

Q

 

∆ in D

 

∆ in Qd

 

∆ in S

 

∆ Qs

 

10
s.
D.
11
S.
D.
12
D.
Transcribed Image Text:10 s. D. 11 S. D. 12 D.
S.
D.
D.
D.
S.
D.
D.
Transcribed Image Text:S. D. D. D. S. D. D.
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