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Question 1: Some states are planning that ethanol be mixed with gasoline to comply with anti pollution laws. Ethanol can be made from corn. Determine what effect are these policies having on the equilibrium price and quantity of corn?
Question 2: Corn is a key input in the poultry, dairy, hog, and cattle industry. What effect has the sharp increase in the price of corn had on these industries?
Please use supply/demand graphs to analyze shifts in supply and demand and the resulting changes in market equilibrium in the situations described in Questions 1 and 2. Show the shifts of either demand or supply curves.
Illustrate graphically how the event described in Question 1 affects the equilibrium price and quantity of corn.
Illustrate graphically how the event described in Question 2 affects the industries.
Kenya is a state that is a part of the African Nation. Talk about the exchange rates and their money supply. Also write about whether or not Kenya has a promising future.
In the summer of 1997, Congress and president agreed on budget package to balance the federal budget. The contract," signed into law by President Clinton in August as the Taxpayer Relief Act of 1997,
Microeconomics is the study of economics at the individual or micro level. One of the most well known microeconomic models is the production possibilities frontier,
Suppose the market shares of the six largest firms in the industry are 12 percent each. Compute the six-firm concentration ratio and Herfindahl-Hirschman index for this industry.
Assume that the competitive firm's marginal cost of producing output q is given by MC(q)=3+2q. Suppose that the market price of the firm's product is $9. Find out level of output will the firm produce?
Describe how the market for corn would be influenced if ethanol, a corn derivative was used to fuel cars in US. How would market be influenced if a new technology caused corn farming to be more efficient?
What are the various methods of inventory valuation? Explain the effect of inventory valuation methods on profit during inflation. What are the provisions of Accounting Standard 2 (AS-2) with regards to inventory valuation?
Assume that you became president of small theater company. Your playhouse has the 120 seats and small stage. The actors have national reputations, and demand for tickets is enormous relative to number of seats available
Developing countries in the "Global South" turned to socialism in the past as a means to solve their economic problems.
Provide some example of a goods that you purchase or market at your workplace to demonstrate why demand curve slopes downwards and why supply curve slopes upwards?
Choose an existing good or service from Will Bury's Price Elasticity, Incremental expenses, or Thomas Money Service Corporation scenarios, or choose an existing business with which you are familiar.
Marketing mix is controllable set of activities that the firm employs to respond to the wants of its target markets. Make a report on the marketing mix and keep the following questions in mind:
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