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Florida Citrus Mutual, an agricultural cooperative association for citrus growers in Florida, needs to predict what will happen to the price and output of Florida oranges under the conditions below. What are you predictions? For each part, sketch a graph showing the appropriate demand and supply analysis.A. A major freeze destroys a large number of the orange trees in FloridaB. The scientists in the agricultural extension service of the University of Florida discover a way to double the number of oranges produced by each orange tree.C. The American Medical Association announces that drinking orange juice can reduce the risk of heart attack.D. The price of Florida grapefruit falls.
Now assume that an unusual shift of the Gulf Stream leads to an unseasonably cold summer in Europe, destroying much of the grape harvest there.
Elucidate at what price also quantity will marginal revenue be zero. At what price and quantity will marginal revenue be maximized.
Assume that gasoline retailing industry is perfectly competitive, constant expenses, and in long run equilibrium. If the government unexpectedly levies a 5-cent tax on every gallon sold by gasoline retailers,
illustrate what types of fiscal and monetary policies are taken to stimulate the economy during the recession phase of the business cycle.
Sprint acted as a well-managed business that takes the actions necessary to remain competitive in a very competitive marketplace.
Elucidate the interpretation of the coefficient b. Do the demand functions satisfy the relevant homogeneity conditions.
The US congress is presently debating the new budget. Should federal spending be drastically reduced.
Compute the amount of profit (ignoring exchange rate fees) that will be earned and the percentage return achieved.
Illustrate what does, and what doesn't, the Solow model tell us about the sources of economic growth and the best policies for attaining high per capita incomes.
the present market conditions for the Xerox corp by addressing the price elasticity of demand for the company.
A firm in perfectly competitive 'industry has this cost function: TC = 900 + q^2-If market demand is QD = 1800 - 20P, what is the long-run equilibrium price, quantity produced by the firm and the industry, and the number of firms in the industry?
The demand function for VCRs has been estimated to be Qv = 123 - 1.7Pt + 46 Pm - 2.1Pv -5M, where Qv is the quantity of VCRs,Pt is the price of a videocassette, pmis the price of a movie, Pv is the price of a VCR, and M is income.
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