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Following a renewable fuels mandate in 2005, the demand for yellow corn, the key ingredient in ethanol, skyrocketed.
a-What is the immediate effect of the increase in demand on the price and quantity of yellow corn?
b-Yellow corn and white corn (the key ingredient in corn tortillas) are substitutes in production. As a result of the changes in the market for yellow corn, what happens to the market supply of white corn?
c-How does the changing supply of white corn affect its market price?
d-As the price of white corn changes, what effect does that change have on the supply of yellow corn? Indicate the likely effects on both the price and quantity of yellow corn produced.
e-Does the change in the price of white corn tend to push yellow corn prices and quantities back towards their initial values, or farther away from them?
Assume that Wal-mart is the only employer of retail workers in a small town in Indiana. As a local non-discriminating monopsonist, Wal-mart faces a labor supply curve given by: Find Wal-Mart’s Total Labor Cost and Marginal Cost.
q1. as this is a issues of involving selling prices of hamburgers also the quantity of hamburgers consumers which would
Consider the market for carbonated water and suppose that demand is given by D(p) = 100 – 5p There are only two firms producing carbonated water, each with the same constant unit cost c = 2. What are the equilibrium prices and quantities if the firms..
Use a graph of supply and demand under perfect competition to show a situation where the consumer price increases by exactly the amount of a specific excise tax paid by the producer
3.analyse the two following situations for forms in competitive markets a suppose tha tc 100 15q where tc is total cost
USA has millions of individuals under 16 years old who are not working. Do we include them as part of unemployed individuals? Why higher rates of unemployment undesirable? What are the social problems linked with unemployment? What are the types of u..
Every week, more and more apps are available for Droid-based smart phones. How does this affect the optimal price for Droid-based smart phones?
Now suppose that management believes the probability of weak demand in 2009 is 25% and the probability of strong demand is 75%. Using mean-variance analysis, explain which level of output should be chosen.
CER defaults on its loan payments to Bank One. Can Bank One attach the 100 stereo systems CER bought from Stereo Manufacturer.
Based on standard monetary theory, if the Fed purchases Treasury Bills from banks:
Which computer software package should the firm's human resources office use to manage the payroll?
For the supply and demand curves in the diagram, the level of employment will be highest at: Allocative inefficiency in a labor market may be caused by:
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