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Which of the following would cause the demand curve for rice to shift to the left?
A rise in the price of rice.
A blight that destroyed 75% of the rice harvest.
A report claiming that the starch in rice causes heart disease.
A tariff that doubles the price of imported spaghetti.
We discussed the possibility that a start up firm in San Francisco plans to 3-D print Rhinoceros horns that are indistinguishable from real horns. Assume they are able to produce these horns cheaply. Suppose the price elasticity of demand for heating..
this product lobby the government’s lawmakers, in terms of this product being an essential for college students but they are considering halting production due to the lack of profits. The lawmakers agree and now set a price floor at $150. What w..
Suppose a manufacturer estimates its marginal cost at $1.00 per pack, its own price elasticity at -2, and sets its price at $2.00. The company's settlement obligations are expected to raise its average total cost per pack by about $.60. What effec..
Explain how will La Nina affect the price of Chilean wine. Assuming LaNina does not impact the California wine producing region, how will La Nina impact the market for Californian wine.
By showing the behavior of both a monopoly and a dominant firm in the same graph, show that monopoly profits are greater than the profit of a dominant firm in the no-entry equilibrium. Show how much consumers benefit from buying from a dominant firm-..
What is the value of the six month put option on the stock given the same underlying information for the call option. Verify that put/call parity holds for properly priced call and out options
The initial steady-state level of capital per worker in Macroland is 5. The Golden Rule level of capital per worker in Macroland is 8. a. What must change in Macroland to achieve the Golden Rule steady state? b. Why might the Golden Rule steady state..
Provided Ajax's pricing strategy, illustrate what is marginal revenue function for Ajax.Compute profit-maximizing level of output for Ajax.
Select three presidents and research their Chief of Staff and White House advisers during their tenure as President. Create a chart comparing and contrasting how these advisers influenced each president in economics, foreign affairs, domestic policy ..
"Mercantalism recommends that a country should limit its exports, so that more of the otherwise-exportable products are instead available for local consumption." Do you agree or disagree with this characterization of mercantilism's message? Explain.
Why was the Federal Reserve System set up with twelve regional Federal Reserve banks rather than one central bank, as in other countries? The Fed is the most independent of all U.S. government agencies. What is the main difference between it and othe..
explain a diagram for an industry in a developing country where infant industry protection might be a good idea. What are arguments for and against governments in developing countries giving infant industry protection to new industries.
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