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A. Suppose the total demand for wheat and the total supply of wheat per month in the Kansas City grain market are as shown in the table below. Suppose that the government establishes a price ceiling of $3.70 for wheat. What might prompt the government to establish this price ceiling? Explain carefully the main effects. Demonstrate your answer graphically.
B. Next, suppose that the government establishes a price floor of $4.60 for wheat. What will be the main effects of this price floor? Demonstrate your answer graphically.
What was the amount of the equal annual end-of-year payments for each of ?rst 3 years? b. What was the amount of the equal annual end-of-year for each of the last 3 years?
Elucidate what is the new market price. How many Frisbees are sold angry students marched to Washington, asked Frisbee price.
If the economy was working at full-employment equilibrium, illustrate the state of equilibrium after the fall in consumer confidence.
Illustrate what is the most money you can make on this position. Elucidate how far can the stock price move in either direction before you lose money.
Why does hedging usually take place with a forward contract.
Explain using a diagram how a tax cut in period two affects consumption in both periods. Assume that average consumer does not believe that he/she or anyone in family will ever have to pay higher taxes in future to offset current cuts.
Monopoly is often heralded as the ultimate goal of a firm, to be the only seller in a market. however the picture might not be as rosy as it appears if you actually reach monoply status. Why is that. How monopolies in real world earn huge rates of..
At what price of food in terms of manufactures would A and B respectively supply food? Would trade take place between A and B in David Ricardo’s world? How many manufactures could B supply?
Discuss whether each statement is an example of positive economics or normative economics or if it contains elements of both: an increase in the personal income tax will slow the growth rate of the economy.
Assume an economy with an aggregate production function of the form Y = 1.5K. If the nation’s population grows at 5%, the rate of depreciation is 3%, and the savings rate is 8%, what is the steady-state output per capita level?
Walmart founder Sam Walton amassed an enormous fortune in discounts retailing one of the most viciously competitive markets imaginable.
Graph Mary's marginal cost curve using the orange line and her marginal revenue curve using the blue line
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