Already have an account? Get multiple benefits of using own account!
Login in your account..!
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
According to the American Metal Markets Magazine, the spot market price of U.S. hot rolled steel recently reached $580 per ton. Less than a year ago this same ton of steel was only $260. A number of factors are cited to explain the large price increase. The combination of China's increased demand for raw steel-due to expansion of its manufacturing base and infrastructure changes to prepare for the 2008 Beijing Olympics-and the weakening U.S. dollar against the euro and yuan partially explain the upward spiral in raw steel prices. Supply-side changes have also dramatically affected the price of raw steel. In the last 20 years there has been a rapid movement away from large integrated steel mills to minimills. The minimill production process replaces raw iron ore as its primary raw input with scrap steel. Today, minimills account for approximately 52 percent of all U.S. steel production. However, the worldwide movement to the minimill production model has bid up the price of scrap steel. In December, the per-ton price of scrap was around $156 and soared to $302 just two months later. Suppose that, as a result of this increase in the price of scrap, the supply of raw steel changed from Qs raw = 4,900 + 5P to Qs raw = 100 + 5P. Assuming the market for raw steel is competitive and that the current worldwide demand for steel is Qd raw = 8,800 - 10P, compute the equilibrium price and quantity when the per-ton price of scrap steel was $156, and the equilibrium price-quantity combination when the price of scrap steel reached $302 per ton. Suppose the cost function of a representative minimill producer is C(Q) = 1,000 + 10Q2. Compare the change in the quantity of raw steel exchanged at the market level with the change in raw steel produced by a representative firm. How do you explain this difference?
Where Qt represents the quantity of widgets sold per period t, Pt represents the price of widgets during period t, and Mt represents average household income of customers du
Marginal Revenue (MR) = $130 Total Cost (TC) = $1,100 + 135Q + 0.6Q2 Marginal Cost (MC) = 135 + 1.2Q As the plant manager, should you recommend to the owners
How has the U.S. government debt changed since 2006? What are the sources of the change in U.S. government debt? What would be a "credible business plan" for the government to
Suppose the world price of cotton rises substantially. The demand for labor among cotton-producing firms in Texas will (decrease/ increase). The demand for labor among texti
Construct the statement of stockholders' equity for December 31, 2012. No common stock was issued during 2012. Write out all your answers completely. For example, 25 million
Suppose that the city government in Madison sets an effective price ceiling on apartment rental prices. What can be said regarding the effect of this price ceiling on the ap
When purchased on hire purchase over two years there is a deposit to pay of £140 and 24 monthly payments of £26. (a) In each case calculate the rate of simple interest per ann
Graph this consumption schedule and determine the MPC.- Graph the resulting consumption schedule and compare the MPC and the multiplier with those of the pretax consumption sc
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd