Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
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?
Illustrate what is the firm's current profit. Illustrate what is likely to occur in this market.
Explain how does economists distinguish between the absolute and relative sizes of the public debt.
If ABC adds an assembly line for the product and XYZ does not follow with a competitive product.
show which own-price elasticity of Rohan's Marshallian demand for any good is independent of his income. To show that the income elasticity of his Marshallian demand for any good is equal to 1.
Illustrate what are the State's doing that is consistent with the constitution.
What are soft laws? What are the advantages and disadvantages of soft laws? Why are soft laws sometimes the outcome of negotiations on global environmental regimes?
Why does the assumption of independence of risks matter in the examples of insurance.
An intraocular lens manufacturing is in the qualification process of a polishing machine.
Incorporate tastes into economic models only to the extent that tastes determine whether pairs of goods are substitutes or complements.
Also, 40% of cell phones are both Flashy and owned by Hipsters. Finally, if a cell phone is owned by a Granny, the probability of it being Dull is .98. What is the probability that a cell phone is both Dull and owned by a Hipster.
How we justify assumption that individual demand curves have a negative slope. If y do not, then we may not be able to add them to get market demand.
Illustrate what might a more proactive Motorola have done dissimilarly had it correctly perceived the steps its rival Nokia would take.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd