How will price and output in this industry adjust

Assignment Help Business Economics
Reference no: EM131589237

A perfectly competitive spinach industry is in long-run equilibrium. Now suppose that some consumers are getting sick by eating spinach that contain salmonella. Describe how this change will affect short-run economic profits. What will happen to the number of spinach growers in the long run? How will price and output in this industry adjust in the long run?

Reference no: EM131589237

Questions Cloud

Nurses these days face many new challenges : The most common reason for change is that what you did before is no longer effective. Nurses these days face many new challenges.
Explain split the juvenile courts into two sections : Would it be to the advantage of the taxpayer and the juveniles to split the juvenile courts into two sections? Explain in detail why or why not.
Develop personal and strategic communication modalities : Develop personal and strategic communication modalities that foster negotiation, advocacy and positive work environments within diverse healthcare settings.
How the company should modify specific business : Mary Jane and Allen Greene, a married couple, own a high-end costume jewelry manufacturing and distribution company called Greene's Jewelry Wholesale, LLC.
How will price and output in this industry adjust : What will happen to the number of spinach growers in the long run? How will price and output in this industry adjust in the long run?
Describe patient-care technologies : Describe patient-care technologies as appropriate to address the needs of a diverse patient population.
Identify the six different theories of police corruption : Identify the six different theories of police corruption. Explain which theory you believe best explains why police corruption occurs.
Total revenues from ice cream sales : If this price were to increase by a little bit, what would happen to the total revenues from ice cream sales?
Explain advantages and disadvantages of utilizing interviews : What are the advantages and disadvantages of utilizing interviews and telephone surveys when collecting data in criminal justice research

Reviews

Write a Review

Business Economics Questions & Answers

  Present two policy recommendations based on this issue

Use critical thinking to analyze the issue using economic concepts and theory learned in our class. Present two policy recommendations based on this issue. Use additional references to back up your arguments. Include at least one graph developed in t..

  What other changes might you want to make at the same time

Why would a tax credit for mortgage intrest be worth more to lower income families than a deduction? Would you favor changing the benefit from a tac deduction to a tax credit? What other changes might you want to make at the same time? WHY?

  What choice is firm likely to encounter a greater likelihood

Assuming that each choice results in the same production costs once installed, under what choice is the firm likely to encounter a greater likelihood that its competitors will also expand their capacities?

  Consider how the globalization of markets and production

Consider how the globalization of markets and production has changed the nature of policy decisions. How are events in Europe and other parts of the world influencing the economy in China?

  Illustrate what is the producer profit-maximizing

Illustrate what is the producer's profit-maximizing(loss-minimizing) output level. Illustrate what are the firm's economic profits.

  What are possible opportunity costs of opening arctic lands

What are possible opportunity costs of opening Arctic lands to private extraction of as-yet unavailable resource endowments?

  Consumer purchase in order to maximize her utility

Suppose a consumer's utility function is given by U(X,Y) = X*Y. Also, the consumer has $288 to spend, and the price of X, PX=16, and the price of Y, PY = 1. How much X and Y should the consumer purchase in order to maximize her utility? How much tota..

  Discuss examples of it within south asian islam and hinduism

Define syncretism and discuss examples of it within South Asian Islam and Hinduism. Also, after reading this chapter how can you view Islam as a "plurality of traditions" (201) rather than as a single monolithic entity?

  Tales about triumph and success

Why do you think Hollywood ha for many years, an infatuation with tales about triumph and success out of poverty and how does American poverty provide the conflict necessary for unparalleled drama?

  Most important attributes of successful organizations

What are the three most important attributes of successful organizations? Why? Is it more likely for an organization to display these attributes (to be successful) in an oligopoly than in monopolistic competition? Why or why not?

  What role does comparative advantage play in trade

Illustrate what role does comparative advantage play in trade among member nations

  Behavioral economists suggest that brand-loyalty

Behavioral economists suggest that brand-loyalty, which can be a source of monopoly power for the producer, may be explained by consumers' tendency to have the:

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd