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1. WASHINGTON - Scorching heat and the worst drought in nearly a half-century are threatening to send food prices up, spooking consumers and leading to worries about global food costs. On Wednesday, the government said it expected the record-breaking weather to drive up the price for groceries next year, including milk, beef, chicken and pork. The drought is now affecting 88 percent of the corn crop, a staple of processed foods and animal feed as well as the nation's leading farm export. (NY TIMES)Use Supply and Demand analysis to answer the following questions:How does the drought affect the supply of corn?How does this affect the prices of milk, beef, chicken and pork?
2. NEW YORK--- Sushi bars are opening up in vast numbers in American cities. Consumption of sushi, the raw-fish delicacy from Japan, has soared in the United States in recent years. Nevertheless, the price of sushi has remained relatively constant.Use Supply and Demand analysis to answer the following questions:What happen to the supply and demand for sushi?Why has the price of sushi remained constant?
Smith can produce with or without a filter on his smokestack. Production without a filter results in greater smoke damage to Jone. The relevant gains and losses are as follows: Gains to Smith: $200/wk with filter; $245/wk without filter.
Describe the macroeconomic and microeconomic concepts and how they relate to the management of a global organization.
Why do national income accountants compare the market value of the total outputs in various years rather than actual physical volumes of production What problem is posed by any comparison over time of the market values of various total outputs
One person proposes an allocation (both objects go to person 1, both go to person 2, one goes to each person), which the other person then either accepts or rejects. In the event of rejection, neither person receives either object.
Explain how the factor changed since the recession began in December 2007 and under aggregate supply discuss institutional changes that alter the efficiency of resources.
I need help with identifying 5-realistic and important factors that will contribute to a successful United State economic recovery over the next 5-years.
During a recent conversation I had with a friend in Chattanooga, he said that a new Walmart was being constructed there. "The last thing we need is another Walmart," he told me. What is the proper (economic) response that one would give to that st..
Explain why did Ricardo think that international trade was based on comparative advantage while internal (domestic) trade was based on absolute advantage.
Illustrate how critical issues such as process formation, communication, communication channels and personal values may affect a team's structure and success.
Graph a market with a tax where firms pay the majority of the tax. 3. Graph the long run equilibrium for perfect competition. Using a similar average cost curve, graph the long run equilibrium for monopolistic competition. Compare the results. Gra..
Elizabeth Corday, a quality control supervisor for Surgery Products, Inc., Compute the unit cost growth rate using the constant rate of change model with continuous compounding.
One of the limiting resources in our economy is time. As a society, we make selection about allocation of time in work and other pursuits.
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