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Ethanol or ethyl alcohol is a motor fuel produced from sugarcane, corn or other sugar based feedstocks. In the United States, where ethanol production uses corn as feedstock, the Energy Policy Act requires that a minimum quantity of renewable fuels like ethanol be blended into gasoline. Commentators call this requirement the “corn ethanol mandate”. Currently, there is an increasing political pressure to end the ethanol requirements reflected in four bipartisan proposals that call for an end of the “corn ethanol mandate”. Briefly discuss how the end of the mandate would affect consumer surplus and producer surplus in the market for ethanol, in the market for corn, and in the market for morning cereals.
Carefully define a standard normal distribution. Why does a researcher want to go from a normal distribution to a standard normal distribution? Explain. (250 words)
When the absolute value of the own price elasticity of demand is zero, demand is:
Suppose the price is currently $2. Illustrate what problem exists in the economy. What would you expect to happen to price.
Overhead at the water cooler the demand also cost estimate which were provided at the meeting are very useful.
Evaluate how their business environment is influenced by government economic policy which may be identified through your application of economic theory.
Why may the effective patent life of a drug be shorter than the legal life. Explain why may the effective patent life of a drug be longer than the legal life.
Suppose that every additional 6.0 percentage points in the investment rate (I ÷ GDP) boost economic growth by 1 percentage point. Assume also that all investment must be financed with consumer saving. By how much must consumption decline for this to ..
Medfin Accounting Company (MAC) specializes in providing accounting and tax services for medical establishment and professionals. Presently, the company's production method is highly labor-intensive because many of the book keeping tasks is done manu..
The short run for a company is
Borrow from the nation with the lower nominal interest rate, invest in the nation with the higher nominal interest rate and profit from the interest-rate differential.
There is a dollar on the table, which each player can try to grab. If only one player grabs, G, and the other does not, D, the player who grabs gets the dollar and his payoff is 1, Which strategy profiles are Pareto Optimal?
Using appropriate models or theories, explain the economic intuition (logic) behind the following events. An increase in money supply leads to a fall in short-run interest rate. An increase in real income leads to a rise In short-run Interest rate
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