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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
Equipment initial cost $ 500,000 Equipment salvage value $ 25,000 Annual gross income $ 300,000 year 1 Income gradient years 2 - 5 $ 25,000 Annual gross income $ 400,000 years 6 - 20 Annual operating expenses $ 160,000 first 10 years
Graph Jay's budget constraint when her income is 50, and the price of housing and food is 2 and 10 respectively. What happens to her budget constraint when M increases?
Karen runs a print shop that makes posters for large companies. It is a very competitive business. What is her AFC per poster (not per thousand!) if she prints 1000 posters? 2000? 10,000?
explain the points in the process where the vendor has an opportunity to add value, be sure to answer the following questions, how does value vary for a large purchase versus a smaller one, does adding value cost money
Oil is shipped from Alaska to California and Florida. It is also shipped from the Persian Gulf to Florida and to Europe, and from the North Sea to Europe. Assume that the world market and the individual markets for oil are competitive and that a t..
This document shows the uses supply and demand model to explain the evolution of the price of gold and silver.
Assuming that banks used all their excess reserves to support an increase in the volume of bank lending, by how much would bank lending expand if the Fed undertook the policy action that was your answer to the question above.
Use a graphical illustration to describe briefly what the influence an increase in immigration on the market supply of labor
how is the internet shaping the globalization of culture? compare and contrast views of the same landscape by different
Mikey cuts hair to pay for his tuition for college. Unfortunately, the cost of a haircut in his town hasn't risen in years, and neither has his hourly wage. To make matters worse, the cover charge at his favourite club, Stages
Gorton is HIV positive. He is also has severe allergies. The medication he takes to control the debilitating effects of his allergies causes his nasal membranes to dry out, resulting in frequent nosebleeds. Even though his allergy medications cont..
Suppose there is a simultaneous increase in the demand for diamonds and increase in the supply of diamonds. Which of the following will occur as a result of these simultaneous events?
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