Explain why the price increased in china in 2009

Assignment Help Microeconomics
Reference no: EM13937713

The price of garlic in China increased forty-fold between March and November 2009. Due to low prices in the previous year, the amount of land set aside for growing garlic in 2009 have been halved in Chinea. As well there been rumours that garlic could help prevent swine flu. It was reported that a high school bought 200 kilograms of garlic and made students eat it to stay healthy. using the supply and demand model explain why the price increased in china in 2009.

Reference no: EM13937713

Questions Cloud

Explain how fixed manufacturing costs are treated : Explain how fixed manufacturing costs are treated under variable costing. How are fixed manufacturing costs treated under full costing?
Laws for boolean algebras to convert : Given that there are 100 elements in A1, 1000 in A2, and 10, 000 in A3, find the number of elements in A1 ∪ A2 ∪ A3 in each of the cases below.
Function that accepts a score for a driver''s license : Write a function that accepts a score for a driver's license facility, an int or a float, and returns a letter. If the score passed in is less than 75, then the letter returned is an F for Fail. Otherwise, the letter returned is a P for Pass.
Natural convection from a horizontal heated surface : Consider natural convection from a horizontal heated surface. Use Buckingham Pi Theorem to determine which dimensionless number you would used to investigate this phenomenon.
Explain why the price increased in china in 2009 : The price of garlic in China increased forty-fold between March and November 2009. Due to low prices in the previous year, the amount of land set aside for growing garlic in 2009 have been halved in Chinea. As well there been rumours that garlic c..
Convert the function to disjunctive normal : Given that there are 100 elements in A1, 1000 in A2, and 10, 000 in A3, find the number of elements in A1 ∪ A2 ∪ A3 in each of the cases below.
Convert the following infix expressions to postfix : Convert the following infix expressions to postfix
Calculate the density of an irregularly shaped rock : Write an explanation to someone who does not know how to make proper measurements on how to measure the following line with the ruler.
What is the dividend rate on preferred stock : What is the par value of the preferred stock? If the total annual dividend on preferred stock is $25,200, what is the dividend rate on preferred stock? How many shares of common stock are outstanding?

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd