Marketplace for tobacco, Assume there is a drought that

Marketplace for tobacco

Assignment Help Business Economics

Reference no: EM137184

Q1. The demand for tobacco is price inelastic. Assume there is a drought that destroys a large portion of the tobacco crop. Explain what happen in the marketplace for tobacco? Will the equilibrium quantity and price change? If so, clarify how? What will happen to the total revenue earned by tobacco farmers?

Q2. Imagine you are a director of a chemical company. An accident has occurred in which chemicals leaked in to the ground water nearby, the community is unaware. Assess the costs involved in cleaning up the water immediately (confessing) versus hiding the fact and possibly paying more in the future. Describe the impact on profitability in both situations.

Reference no: EM137184

Questions Cloud

Institutions influence economic life : Demonstrate by example about production which exhibits constant returns to scale.

Propose a hypothesis to explain the results : Using principles of community ecology, propose a hypothesis to explain the results and outline her methods and science processes (as in dependent variable, independent variable, controls, constants) as used in the experiment. What extra evidence woul..

The pyrites leech large amounts of sulfuric acid : Under constant erosion and weathering, the pyrites leech large amounts of sulfuric acid (H2SO4). The spoil banks are also mixed with large quantities of basic limestone and clay carbonates. What have to occur over time.

Advantages and disadvantages of cigarette : Advantages and disadvantages of cigarette money in this prison economy in terms of these 6 criteria.

Marketplace for tobacco : Assume there is a drought that destroys a large portion of the tobacco crop. Explain what happen in the marketplace for tobacco.

What probable difference between these forms : Glucose (C6H12O6) can survive as both an open-chain form and a closed-ring form. Before 1900, glucose was only thought to happen as an open chain. Now we know that over 99 percent of the time, glucose occurs in the closed-ring form. What probable dif..

Accumulated principal plus interest : Illustrate how much will they have accumulated principal plus interest when they reach 65 years old. What is the moral of this situation.

Significant to use price index : Elucidate how do the GDP per capitals change after accounting for price indices.

Economy''s supply and demand : How does this policy involve the supply and demand for loan able funds. What occurs to the equilibrium interest rate.

User Account

All Pages