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!
Fierce storms in October 2004 caused TomatoFest Organic Heirlooms Farm to end its tomato harvest two weeks early. According to Gary Ibsen, a partner in this small business (Carolyn Said, "Tomatoes in Trouble," San Francisco Chronicle, October 29, 2004, C1, C2), TomatoFest lost about 20,000 pounds of tomatoes that would have sold for about $38,000; however, because he did not have to hire pickers and rent trucks during these two weeks, his net loss was about $20,000. In calculating the revenue loss, he used the post-storm price, which was double the pre-storm price.
a. Draw a diagram for a typical firm next to one for the market to show what happened as a result of the storm. Assume that TomatoFest's experience was typical of that of many small tomato farms.
b. Did TomatoFest suffer an economic loss? What extra information (if any) do you need to answer this question? How do you define "economic loss" in this situation?
Determine the quantity of marching band music that would be produced if marching bands were forced to consider the costs they imposed on others.
at a price of $1 each, 200 popsicles are sold per day in the perpetually hot town of Rostin. Consider the elasticity of supply. In the short run, a price increase from $1 to $2 is unit-elastic (Es = 1). In the long run, a price increase from $1 to..
You are given the following model that describes the economy of Hypothetica. 1)Consumption function: C=100 + .8Yd 2) Planned investment: I = 38 3) Government spending: G = 75 4) Exports: EX = 25
Are the workers in country 1 better o¤ as a result of the tax? What about the impact of the tax on the welfare of the workers in non taxing countries?
The Present value of the following 2 cash flows are equivalent if the interest rate is i. Which one is more valuable if the interest rate is 2i? P=F(1+i)^-n Option 1 = 3 periods Option 2 = 2 periods.
State carefully the ceteris paribus assumption in this case. Do you think this simple regression of Y on X satisfies that assumption? Why or why not?
There is nothing we can do about them except to send food relief after they occur. Explain why that position is inaccurate. Concentrate on agricultural pricing policies and distributional issues.
Show that in the competitive equilibrium, α is the fraction of national income that goes to the remuneration of capital and 1 - α is the fraction that goes to the remuneration of labor.
The recent average starting salary for new college graduates in Economics is $47500. Assume salaries are normally distributed with a standard deviation of $4,500. a)What is the probabilty of a new graduate receiving a salary between $45,000 and $50..
If production is increasing at 3 kayaks per day when production is 40 kayaks per day, find the rate of increase in revenue.
Will health and safety legislation mandating workplace and product safety standards reduce the profitability of the regulated firms? Who bears the cost and who gains the benefits of such legislation? .
A town has a bakery that sells bread and a cheese shop. It costs $1 to make a loaf of bread and $2 to make a pound of cheese. If the bakery's price for a loaf of bread is p1 and the cheese shop's price for a pound of cheese is p2
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