The wheat price on the market equilibrium for cereals

Assignment Help Business Economics
Reference no: EM131171151

"The price on wheat has fallen from $9 a bushel to $7 a bushel in the past seven months as rain and snow fell on the southern states." [Source: The Wall Street journal, February 12, 2013] Explain the effect of the fall in the wheat price on the market equilibrium for cereals. For those unfamiliar with U.S. geography, it is safe to assume that it is typically dry and hot in the U.S. southern states. {Hint: Identify three aspects: (1). How does falling wheat price affect supply of cereal, if there is any effect at all. (2) How does falling wheat price affect demand for cereal in the U.S. -- if there is any effect at all. (3) What happens with the equilibrium quantity and price on the market for cereal. it might help to draw a graph to answer the question -- you don't need to upload that graph.]

Reference no: EM131171151

Questions Cloud

Calculate the intensity of sound for each speaker : Calculate the intensity of sound for each speaker expressed in W/m2 and comment on the results.
Create a chart summarizing the details of the investment : Create a chart summarizing the details of the investment for both Bob and Lisa. Explain the results in terms of time value of money.
Describe project measurably in terms of scope : Select a hypothetical or real project in your personal life, like moving from one city to another or buying a house. Describe the project specifically and measurably in terms of scope, budget, schedule, and quality
Trends and fluctuations in the unemployment rate : Describe (briefly) the trends and fluctuations in the unemployment rate in the United States from 1949 through 2013. In which periods was the unemployment rate above average and in which periods was it below average?
The wheat price on the market equilibrium for cereals : "The price on wheat has fallen from $9 a bushel to $7 a bushel in the past seven months as rain and snow fell on the southern states." [Source: The Wall Street journal, February 12, 2013] Explain the effect of the fall in the wheat price on the marke..
What is the shape of the data : Amazon has looked at the metric average time on site per web visitor, and they have found that the average time on site is 4.25 minutes with a standard deviation of 2.1 minutes. The data follows a normal distribution. What proportion of visitors..
Calculate the voltage output of a dynamic microphone : Calculate the voltage output of a dynamic microphone when exposed to soundpressure levels of 70 and 90 dB if the open-circuit sensitivity of the microphone is -37 dB.
What differences between inpatient and outpatient facilities : What are the main differences between inpatient and outpatient facilities? What is the purpose and importance of both? Why would one type be used instead of the other?
Provide two examples of monetary incentive : Provide two examples of a monetary incentive and two examples of non-monetary incentive, a carrot and a stick of each, that government policies use to influence behavior. [Hint: you are welcome to choose any examples you like. If you prefer to limit ..

Reviews

Write a Review

Business Economics Questions & Answers

  Partially completed products-pieces of equipment firm uses

______The term used to refer to the raw materials, components, completed or partially completed products, and pieces of equipment a firm uses is

  Across most of your production volume capability

You compete with many firms offering similar products (monopolistic competition). An economic consulting firm has estimated the own-price elasticity for your most profitable product is -1.50. Your marginal cost is constant at $75 across most of your ..

  Approaches the peak of a business cycle

As the economy expands and approaches the peak of a business cycle, which of the following tends to happen automatically, without a specific change in policy?

  Indicate the short run profit maximizing quantity

Draw a graph of a market for a firm in a perfectly competitive industry. Indicate the short run profit maximizing quantity and the profits for the firm.

  Prices in an economy are indexed to increase

Suppose that all wages also prices in an economy are indexed to increase. Explain there can still be an increase tax.

  Suppose that the current international price of wheat

Suppose that the current international price of wheat is $6 per bushel and that the United States is currently exporting 30 million bushels per year. If the United States suddenly became a closed economy with respect to wheat, would the domestic pric..

  Conclude that a sequential equilibrium

Show that in the insurance signalling game, if the consumers have finitely many policies from which to choose, then an assessment is consistent if and only if it satisfies Bayes’ rule. Conclude that a sequential equilibrium is then simply an assessme..

  Identify the biggest beneficiary of the primary market

Identify the biggest beneficiary of the primary market (of the multi-sided network effects) for the Windows Operating System. Support your choice (75 words max) by identifying the nature of the value(s) of this network effect

  Solve for the level of equilibrium output in this economy

In the Keynesian model, suppose that the economy has the following values : C = 100 + 0.75*(Y-T) G = 300 I = 200 NX = 0 T = 200. Solve for the level of equilibrium output in this economy. What is the multiplier on government spending? how much would ..

  Due to the increased globalization of financial markets

Due to the increased globalization of financial markets, we can expect all of the following, except:

  Monopolistically competitive and perfectly competitive firms

In the long run, both monopolistically competitive and perfectly competitive firms attain

  Which market structure has less elastic demand

Which market structure that may have two demand elasticities. Which market structure has less elastic demand?

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