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G.R. Dry Foods Distributors specializes in the wholesale distribution of dry goods, such as rice and dry beans. The firm's manager is concerned about an article he read in the Wall Street Journal indicating that the income of individuals in the lowest income bracket are expected to increase by 10 percent over the next year. While the manager is pleased to see this group of individuals doing well, he is concerned about the impact this will have on G.R. Dry Foods.
What fact might lead the manager to be concerned? If true, what do you think is likely to happen to the price of products G.R. Dry Foods sells?
Assume that the Federal Reserve sells government securities from its existing holdings to financial sector and non bank public. Trace by the expected consequences of this secondary market action on banking system
Given production function Q= 100(L^0.5)(K^0.5), where L = labor hours per unit time, K=machine hours per unit time, and Q=output per unit time.
The demand for housing is often described as being highly cyclical and very sensitive to housing prices and interest rates. Given these characteristics describe the effect of each of the following terms of whether it would increase or decrease the..
Evaluate price elasticity of demand
An industry with twenty companies but the CR = 80 percent is called "high concentration", for a concentration ratio of 80 to 100% is viewed as high concentration.
Assume that the competitive firm's marginal cost of producing output q is given by MC(q)=3+2q. Suppose that the market price of the firm's product is $9. Find out level of output will the firm produce?
Assume the normal production process for beet sugar uses high sulfur oil for fuel and releases two units of sulfur dioxide to the air for every ton of beet sugar manufactured.
Assume you're the manager of Alpha Enterprises, a firm that holds the patent that makes it the exclusive manufacturer of bubble memory chips. Based on the estimates provided by the consultant
Graph the supply and demand schedule for pizza using $5 through $15 as the value of p. In equilibrium, how many pizzas would be sold at what price?
At a management luncheon, two managers were overeat arguing about the following statement "A manager must never hire another worker if new person diminishing returns". Is this statement correct? If so, why? If not, discuss why not?
What do we mean when we refer to basic economic difficulties of what to manufacture, how to manufacture, and for whom to manufacture?
Assume a market is characterized by a unionized and a non unionized sector. Both sections initially have supply given through Q=10,000+25w, and demand by Q=20,000-10w, where w is weekly salary.
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