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Dougs farm in Idaho has four major fields that he uses to grow potatoes.The productivity of each filleddollows
field 1 10,000field2 8,000field 3 5,000field 4 3,000
Assume that each field is the same size and he variable costs of farming are 25,000 per year per field. The variable costs cover labor and machinery which is rented. Doug must decide each year how many fields to plant. In 2009 potato farmers received $6.35 per 100 lbs how many fields did doug plant? Explain by 2011 the price of potatoes had fallen to $4.50 per 100 lbs how will this price decrease change dougs decision how will it affect his demand for labor. How will it affect the value of dougs land.
Suppose you introduced a new consumer food product and invested heavily in (1) national advertising (pull strategy) and (2) motivating your field sales force to sell the product to food stores (push strategy). What kinds of feedback would you re..
Illustrate what are the roles of central bank independence and financial market development in budget deficits and inflation.
The Bertrand and Cournot oligopoly models differ with regard to whether they compete on price of quantity. The profits from each strategy are significantly different. Why?
Illustrate what will happen in the short run and long run to the world real GDP and the price level. Moreover, describe what policymakers could do after this has happened.
For automobiles BWC sells chrome wheels for automobiles. At a price of $600 per set, they sold about 900 sets per month. Illustrate what is the arc price elasticity for this product.
what people need... is a quality of mind that will help them to use information and to develop reason in order to
What is offshoring of white-collar service jobs, and how does it relate to international trade? Why has it recently increased? Why do you think more than half of all of the offshored jobs have gone to India?
Why might a parent company like McDonalds or Hilton choose to franchise its local outlets rather than own them and staff them with employees In many smaller cities all McDonald's outlets are owned by the same franchisee. Why is (or isn't) this fac..
What role do proper rights play in creating common property resources? Why are common property resources subject to market failure due to non excludability?
Which of the following is a private transfer payment Unemployment benefits received by newly laid-off workers The sale of used clothing at a thrift store The Social Security benefits sent to a retired worker A check for $250 sent by a parent to a ..
In 2008 and 2009, the U.S. economy experienced a severe downturn in economic activity due to the financial crisis. Relative to the price decline of the housing market, what are two repercussions that caused a sizable fall in aggregate demand?
In spite of the fact that firms do not make payments on resources they own, these resources still have an opportunity cost. How is this possible, and how does this affect a firm's efforts to maximize profits
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