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Would it be possible to see the price of oil cheaper than the price of water, or even negative? The answer is Yes. April 20, 2020 made a totally different day in oil-market history as the day when the U.S. benchmark price for crude dropped below zero for the first time -- and then kept falling. In a massive and unprecedented swing, the future contracts for May delivery of West Texas Intermediate tumbled to minus $37.63 a barrel. How do you explain this negative oil future price. You think it's reasonable, please explain the rationality. If not reasonable, please explain what caused it.
If the time-frame at hand is sufficient for all inputs to be variable (adjustable), then the firm is
Discuss the international parity conditions. Explain the essence of purchasing parity power. What would happen to purchasing parity power exchange rate if the law of one price were true? What is the difference between the purchasing parity power and ..
In the late eighteenth century, the price of bread in New York City was controlled, set at a predetermined price above the market price. Draw a diagram showing the effect of the policy. Did the policy act as a price ceiling or a price floor?
Ceteris Paribus is latin for. An example of ordinal measure would be. Which slope(s) may a supply curve not have? The fact that as we consume more of good we enjoy each subsquent unit less (1st hot wing vs. hot wing) is an example of what theory?
1. Calculate the depreciation expense to record on the books for Year 2. 2. Calculate the net book value of the equipment reported on the balance sheet
What is the differencebetween the output level where the total profit is maximized and the outputlevel where the total revenue (TR) is maximized? What is the significance ofthese two values in the decision-making process
Does it increase standards of living around the world, or suffocate other cultures under an onslaught of Big Macs and Coca Cola?
The following questions refer to the following graph of a consumer's indifference curve. What is the consumer's marginal rate of substitution between points A and C? What is the consumer's marginal rate of substitution between points C and B?
Explain what a profit sanctuary is and why it is a competitive plus
Which of the following does not provide an example of something that could prevent new firms from entering a market?
Do you think that Logan's bank is likely to provide more reasonable quotations for the spot rate of the British pound if it is the only bank
The market for 4WD cars has been described by the following supply and demand functions: How much is the government revenue from the tax on suppliers? A per-unit tax of $4,000.00 per car is imposed by the government on the firms that sell 4WD cars. D..
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