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Although New York State is second only to Washington State in production of apples, its production has been declining during the past 20 years. The decline has been particularly steep in counties close to New York City. In 1985, there were more than 11,000 acres of apple orchards in Ulster County, which is 75 miles north of New York City. Today, only about 6,000 acres remain.
As it became difficult for apple growers in the county to compete with lower-cost producers elsewhere, the resources these entrepreneurs were using to produce apples - particularly land - become more valuable in other uses. Many farmers sold their land to housing developers.
Suppose a nutritionist develops a revolutionary new diet that involves eating 10 apples per day.
The new diet becomes wildly popular. What effect is the new diet likely to have on the number of apple orchards within 100 miles of New York City? What effect is the diet likely to have on housing prices in Ulster County
. in the keynesian cross assume that the consumption function is given byc2000.75y-tplanned investment is 100
suppose a consumer has 600 to spend on two goods good x and good y. the price of good x is given by px 20. the price
Consider the argument that government spending and borrowing harms long-run economic growth. A. Is this most likely to happen if the private spending crowded out is consumption spending or investment spending.
Lightweight personal locator beacons are now available to hikers that make it easier for the Forest Service's rescue teams to locate those lost or in trouble in the wilderness.
A. Deficits and surpluses could be used to avoid fluctuations in the tax rate. B. Reducing the budget deficit rather than funding more education spending could, all things considered, make future generations worse off. C. A potential cost of defic..
The manufacturer of high-quality flatbed scanners is trying to decide what price to set for its product. The costs of production and the demand for the product are assumed to be as follows:
At a management luncheon, two managers were overheard arguing about the following statement: "A manager should never hire another worker if the new person causes diminishing returns." Is this statment correct.
What are some of the natural and artificial barriers to entry into oligopolistic industries?
Identify at least five locational attributes that are important in the location of a fast-food restaurant. Compare notes with someone in the industry such as a local restaurant manager or owner.
In reference to the 2008 Global Economic Crisis.
Should the firm shutdown immediately when the total fixed cost equals $1,000,000? Should the firm shut down immediately when the total fixed cost equals $3,000,000?
the typical firm in a perfectly competitive market manufacturing an appliance part has long-run total cost of tc
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