products.

Why, then, are organic foods more expensive than their conventional counterparts? The answer is a clear application

of the theories of supply and demand. As people have learned more about the harmful effects of chemical fertilizers,

growth hormones, pesticides and the like from large-scale factory farming, our tastes and preferences for safer,

organic foods have increased. This change in tastes has been reinforced by increases in income, which allow people

to purchase pricier products, and has made organic foods more mainstream. This shift, in addition to population

growth, has led to an increased demand for organic foods. Graphically, the demand curve has shifted right, and we

have moved up the supply curve as producers have responded to the higher prices by supplying a greater quantity.

In addition to the movement along the supply curve, we have also had an increase in the number of farmers
{"producer": "Prince 14.2 (www.princexml.com)", "file_size_mb": 26.99, "file_name": "Microeconomics3e.pdf", "moddate": "2022-12-07T14:23:05-06:00", "file_type": ".pdf", "source": "downloads\\business\\economics\\Microeconomics3e.pdf", "uploaded_via": "batch_uploader", "creator": "PDFMiner", "total_pages": 597, "source_file": "downloads\\business\\economics\\Microeconomics3e.pdf", "batch_upload": true, "file_hash": "830b81f41611ac67a490444dbb5d6aed292224606965b06965b914443c93331a", "title": "Principles of Microeconomics 3e", "upload_timestamp": "2026-02-07T15:24:38.309401", "creationdate": "2022-12-07T14:15:44-06:00"}