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Suppose that a roadside orange stand in Florida charges $1 for a bag of "standard" oranges and $2 for a bag of "premium" unblemished oranges, which are guaranteed to be perfectly ripe. In Montana, consumers must pay $3 per bag to transport FL oranges to their local grocery stores. Assume the transportation cost is the same whether the trucker is sending standard or premium oranges. Based on this information, answer the following questions.
1.Write a sentence that explains the cost of a bag of premium oranges in terms of a bag of standard oranges in Florida?
2. Do consumers in Montana face the same relative costs as a consumer in Florida? If not, what relative costs do consumers in MT face and why?
3.True/False/Explain. A consumer in Florida gives up more standard oranges to consume a premium orange than a consumer in Montana?
4.Where is the relative demand for premium oranges higher - FL or MT? Explain. Hint: relative demand is linked to relative prices?
5.If you were a profit maximizing orange producer in FL, would you send an orange truck destined for MT loaded with more premium oranges or more standard oranges? Explain using key economic principles.
Draw the pre-intervention optimized supply and demand equilibrium. Explain and show what effect it has on the polis.
1. roshima is researching universities where she could study for her mba degree. she is considering 3 major attributes
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What is the current rate of unemployment
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A smart card, also known as an electronic purse, is a plastic card that can be loaded with a monetary value. Its developers argue that, once widely accepted, it could replace the use of currency in vending machines, parking meters, and elsewhere.
A friend tells you that you should never be a patient in a teaching hospital because the death rate among patients in teaching hospitals is higher than in other hospitals. (b) Write down a regression equation where the dependent variable is the death..
Economic and employment growth remain slow and the economy is not yet at its potential. What policies would you recommend to improve economic outcomes in the short run and the long run?
Explain how the rate of unemployment is measured
Determine the residual demand Intel facts after accounting for the quantity supplied by the competitive fringe for any level of price and how many P80 chips will Intel supply per month?
consider the following problem there are two generators in this system and there is a load of 1000mw. there is only one
Would the conclusion change if the sample had been 124, but with the sample proportion of the ?rms meeting the pollution standards the same as before?
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