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Given the market for corn in equilibrium, show the effect on price and quantity of the following simultaneous occurrences:
(1) Good weather results in a 10% increase in the harvest of corn.
(2) A medical report is published that concludes that consumption of corn will reduce your chances of getting colds each winter.
(Note: Two separate graphs are needed to fully determine what happens to equilibrium price and quantity when both demand and supply shift at the same time. Make sure you identify the result for each graph, and the overall result for equilibrium price and quantity.)
the top ten percentile cutoff was 95 points. a. What is the standard deviation for the class? b. What percentile did you score in?
Eddie's Precision machine shop is insured for $700,000. The present yearly insurance premium is $1.00 per $100 of coverage. A sprinkler system with an estimated life of 20 years and no salvage value can be installed for $20,000. what is the present w..
There are 2 fishermen, Zach and Jacob, who fish along a certain coast. Both would benefit if lighthouses were built along the coast where they fish. The marginal cost of building each additional lighthouse is $25. The demand curves for lighthouses ar..
Draw an arbitrary budget constraint for a person, assuming that he or she receives no government subsidies. Then draw in the budget constraint that arises from the above housing subsidy proposal.
Supposed a proposed public policy could result in three possible outcomes: If the probability of each outcome is, respectively, 0.85, 0.10, and 0.05, should the policy be pursued or not? Explain.
Look at the graph of the market for loanable funds found below and answer the following questions: At which interest rate will there be an excess supply of money? What does this mean? At this rate, what is the demand for money? What is the supply?
Identify the three tools available to the Federal Reserve Bank (The Fed) when conducting monetary policy. Explain whether the Fed would
Illustrate what are elements of Circular-Flow Diagram. Illustrate what concepts does diagram illustrate.
The German philosopher Immanuel Kant condemned Utilitarianism as an immoral ethical theory mainly because:
Would a FCC requirement that a licensee adhere to a format (broadcast program material) that is wished to abandon be (a) administratively enforceable and (b) constitutional?
To maximize profit a price discriminating firm should
Illustrate what we didn't realize at the time was that our fixed costs were underestimated by at least 30 percent. This means that we will have to adjust our price upward by at least.
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