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The market for corn is initially in equilibrium. Suppose the production of? biofuels, which use corn as an? input, increases?, and at the same? time, increases in the price of oil cause farm production costs to rise. Which of the following explains the effect on equilibrium price and quantity in the corn? market?
A. The price and quantity of corn will riserise.
B. The price and quantity of corn will fall.
C. The price of corn will rise?, but the effect on equilibrium quantity cannot be determined without more information.
D. The quantity of corn will rise?, but the effect on equilibrium price cannot be determined without more information.
E. The quantity of corn will fall?, but the effect on equilibrium price cannot be determined without more information.
Explain what happens in the marketplace when the federal government, in response to lobbying by (small) farmers, places a floor price under a bushel of corn that is greater than the market equilibrium price;
What is the present worth of this alternative? What is the annual cost of this alternative? What would its present worth be if its life was shortened to 25 years in order to compare it to another alternative of that length?
Major factors in the system of American government are the political parties and their roles and functions within the system. In a minimum of three well-written paragraphs, discuss the roles and functions/purpose of the political parties as they curr..
Scarecrow Manufacturing will need to begin paying a licensing fee of $5697 at the end of year 6. Scarecrow will have to pay the licensing fee for 8 years, but the fee will decrease each year by $123. Scarecrow wants to spread out this cost so it woul..
The client would like to know what output level should it select that will keep the competitor from changing its output.
Which of the following is a characteristic of civil law?
If immigration raises the labour force, what is the expected effect of this on the return to labour (real wages) and capital (rental rate) according to the neoclassical theory of income distribution?
Illustrate what is the opportunity cost (in civilian output) of a defense buildup that raises military spending
Suppose credible medical reports reveal previously unknown benefits of eating six-ounce portions of wild salmon, three times per week. These benefits include a significantly extended life span, improved health, a keener mind, and more dates. Use comp..
1. Assume that inflation is currently 4% but the Fed’s inflation target is 2%. if the economy is currently at full employment, what should the Fed choose as a target for the federal funds rate?
Jenny's utility function is: U = √X (square route of x). She is faced with a lottery where she has a 50 percent chance of winning $121 and a 50 percent chance of winning $225. What is the expected value of the lottery? What is Jenny's expected utilit..
You have made an important presentation to several Japanese executives regarding a proposed partnership between your American company and their Japanese firm. The Japanese executives were very silent during the presentation. Most people in the United..
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