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The government has decided that the free-market price of sugar is too low, and therefore to help the sugar industry, a binding price floor is imposed.
a. use a supply and demand diagram to show the effect of this policy on the price and quantity sold of sugar.
b. sugar farmers complain that this price floor has actually reduced their total revenue. is this possible? Explain (Hint: elasticity)
c. In response to farmers' complaints, the government agrees to purchase all of the surplus sugar at the price floor. Who benefits from this new policy? Who loses?
Explain how does trade affect the production possibilities frontier. Illustrate what other factors can expand the production possibilites frontier.
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The initial cost of machinery for producing a certain item is $50,000. The machinery will have a five-year life with no salvage value. The manufacturing process has a fixed cost of $5,000 per year and a variable cost of $16 per unit. At an interest r..
Answers the business economics questions, Capital markets enable us to spend large sums of money that don't belong us. Would it be necessary to create an internal capital market if a firm was to be led by market-based management? Explain.
In short-run, I see the question on slide 10 (Firm supply) used MC=SAVC to find the crossing point between MC and AVC, so does it mean that we can also take derivative of AVC with respect to Q and set it equal to zero to find minimum or maximum and t..
The case for the Federal Reserve independence includes the idea that
q1. suppose that mnl logs harvested the logs in october 2011 and sold them to mnl number in december 2011. mnl number
Demand for phones at an on-line retailer is 5,000 per month. The annual inventory carrying rate for the retailer is 25 percent, and the retailer incurs a fixed order cost of $15,000 for each order placed with the supplier in Taiwan. How many phones s..
question 1an economy is currently in equilibrium and the following figures refer to elements in its national
Describe what happens after the technological change. What happens to the wage in the long run? What happens to the population size in the long run?
What part of the business cycle is the U. S. economy currently in? Evaluate your answer using three economic indicators. Analyze the trends and forecast the direction of the business cycle in the next six months using your economic indicators.
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