Elasticity of supply- food stamp program

Reference no: EM13769576

Elasticity of Supply

Suppose an economist stated that "food stamps serve only to drive food prices higher, not increase the quantity of food available to the poor." For this statement to be true, identify what the elasticity of supply would have to be and explain why. In addition, predict what the elasticity of supply would have to be for a food stamp program to increase the availability of food to the poor with no price increase and explain why.

You must develop a two- to three-page paper (not including title and reference pages) and be formatted according to APA style guidelines as outlined in the Ashford Writing Center. You need to use two scholarly sources, in addition to the textbook, to support your assertions.

Reference no: EM13769576

Questions Cloud

Insights from overall team discussion : Prepare a 350- to 1,050-word paper (1-2 pages) pulling together the insights from your overall team discussion, linking those insights to the research you did in Week One. For instance: What was an assumption you had that might be wrong? What did ..

What is the probability that the flight arrives : What is the probability that the flight arrives before its due time - how many days per year is the flight expected.

How do you feel about medical care provided to prisoners : How do you feel about medical care provided to prisoners? What major issues exist with regard to the legality of corrections programs? Explain

Agricultural subsidies-impact of corn : Technology has been very important to agricultural markets for the United States and has made it a very large food-producing nation in the world. When looking at the money that the US government spends on agricultural markets with the subsidies th..

Elasticity of supply- food stamp program : Suppose an economist stated that "food stamps serve only to drive food prices higher, not increase the quantity of food available to the poor." For this statement to be true, identify what the elasticity of supply would have to be and explain why.

Write about an important goal that you accomplished : Write about an important goal that you accomplished, What did you have to do to achieve it? Why was it important to you? Is it still important to you?

Compare the 4 vs typology of operations management : Compare the 4 V's typology (Volume, Variety,Variation and Visibility) of Operations Management for two different hypermarkets (LuLu and Carrefour) in (UAE) (9%). Write your own Conclusion based on the comparison (6%). Please do not copy from any inte..

Bids and keep updating based on the current maximum : All parties make a single bid. But do not disclose the bid to peers. The organizer chooses the maximum (or minimum) bid as the winner. What are benefits of such a system as opposed to normal auction where bidders openly declare the bids and keep upda..

Intelligence and achievement assessments : Evaluate the measures of intelligence you selected for reliability, validity, normative procedures, and bias.

User Account

All Pages