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Rice farmers find that for each $.05 increase in the gov- ernment mandated price, each farmer's revenues increase by $50,000.The lobbying cost per farmer for each $.05 increment in price support is increasing, as illustrated in the table below, because convincing additional politicians with less interest in the rice industry becomes increasingly expensive. Plot the marginal revenue per increase in the subsidy and the marginal cost per farmer in a diagram, and identify the level of subsidy worth lobbying for.
Subsidy per Marginal Cost of
Bushel Lobbying per Farmer
0.00 $0
0.05 5,000
0.10 15,000
0.15 30,000
0.20 50,000
0.25 75,000
0.30 105,000
What is the future worth of a series of equal monthly payments of $5,000 if the series extends over a period of six years at 9% interest compounded?
Identify whether the copy center is facing a cost-push or demand-pull inflation and provide a rationale for your answer. Suggest a policy that could help the business in the short run and long run.
Before the Civil War, the South graded with the North and with England. It sold cotton and bought manufactured goods and food. During the war, one of Lincoln's first actions was to blockade the ports, which prevented this trade.
With respect to resource allocation, the interests of the seller and of society coincide in a purely competitive market but conflict in a monopolized market.
Explain what the quote, "Too many cooks spoil the pot" has to do with the law of diminishing marginal returns.
Synthesize the primary ways in which consumer and provider incentives work together to achieve cost reduction under the Affordable Care Act (ACA). Provide at least one (1) example of such synthesis to support your response.
Suppose that currency in circulation is $500 billion, the amount of checkable deposits is $1,000 billion, excess reserves are $150 billion, and the required reserve ratio on checkable deposits is 10%. Calculate the money supply, the monetary base, th..
Using the efficiency criterion, carefully analyze the problem faced by the EPA in identifying haz- ardous air pollutants prior to the 1990 Amendments.
the poster bed company believes that its industry can best be classified as monopolistically competitive. an analysis
Construct a graph showing supply and demand in the electronic dog feeder market, using Microsoft Excel.
Assuming that U =0.5, would an hour spent in the labor force searching for a job make the husband better off or worse off? Would the worker continue to be a member of the labor force under these conditions? If not, how would he be ca..
Discuss the economic impacts of implementing your plan versus the financial impacts of making no change in our current use.
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