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Hormone free dairy milk has been found to be potentially more beneficial and healthy. consider the market for this product in South Africa and answer the questions that follow.
Question 1) explain and show graphically how this market would be affected if South Africans choose to be more healthy.
Question 2) explain and show graphically how this market would be affected if there is an increase in the number of dairy farmers that produce hormone-free milk and at the same time south african consumers choose to be more healthy
Question 3) if the income elasticity of demand for hormone free milk is estimated at +5.0, briefly define what this value means and what it implies about the nature of the product
draw on the reservation prices provided in question 6 and assume mixed bundling.suppose the bundle price is set at 3
question 1how is the equilibrium price determined? what happens if the price is above the equilibrium price? what
In the analyses below, when drawing your diagrams assume that students can choose among only two products on campus, namely tobacco and food.
Global Organizations
Gamma corporation one of the firms which retains you as the financial analyst is considering buying out Beta Corporation. Discuss how these data provide evidence of inefficiency. How could the new manager of Beta Corporation improve efficiency?
For a developing country to grow, it needs capital. The major source of capital in most countries is domestic saving, but the goal of stimulating domestic saving usually is in conflict with government policies aimed at reducing inequality
Suppose the Fed responds quickly to these shocks and adjusts monetary policy to keep unemployment and output at their natural rate. What action would it take On the same set of graphs from part (a), show the results. Label the new equilibrium as p..
If the economy currently has a frictional unemployment rate of 2 percent, structural unemployment of 2 percent, seasonal unemployment of 0.5 percent, and cyclical unemployment of 2 percent, what is the natural rate of unemployment? Where is the ec..
Why is there a social cost to monopoly power? If the gains to producers from monopoly power could be redistributed to consumers, would the social cost of monopoly power be eliminated? Explain briefly.
suppose that marginal utility of good a is 4 times the marginal utiltiy of good b but the proce of good ais only 2
Describe the difference between movement along the demand curve and a shift in demand. Provide an example to help the class understand the difference between the two.
At what output is AVC at minimum? If the market price of firm's output is $7 per unit, should the firm produce or shut down?
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