Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question: Suppose the market of grain is perfectly competitive. Uncle Joe is a typical farmer with a long run cost function of C = 120q - 30q2 + 5q3 .
a. Find the long run competitive equilibrium price of grain.
b. What is the profit of Uncle Joe in (a)? Explain whether he should stay in grain farming in the short run.
c. In reality, the fertility of farmlands is different. Some farmlands fit better in growing grain, while others fit better in growing vegetables. Owing to a rapid world economic growth in recent decades, many grain farmers have shifted towards growing vegetables, despite grain being the major diet in a lot of countries.
i. Given the additional information in (c), what is the shape of the long run market supply curve for grain? Explain. ii. Suppose there is a permanent reduction in the demand for grain. What would happen to the market price, market output level and the number of farmers in the grain market in the long run? Explain with a relevant diagram.
What are the expected mean and standard deviation for your sample, assuming the distributor's claim is true? (Show your work)
The estimated inflation rate is 8%. If the bank pays 5% compounded annually, what lump sum should he deposit on the child's 4th birthday
Explain the importance of the product design process. Describe the connection of designing new products and their relationships to production processes.
According to Alaskan state economist Mark Edwards, the multiplier effect of Alaska's trade with Japan is such that for every $1 billion exported.
If the price of one of the bundles of good rises, what information is needed to calculate the impact on demand for each of the bundles of goods?
If the appropriate interest rate is 13 percent, what kind of deal did the player snag?
Consider a situation in which a risk-neutral principal wishes to contract an agent to work on a project. The project produces output x = e + e
What is your own stand on off-shoring? Give economically sound arguments to support your position
A company consists of two kinds of employees, tall and short. Each person can work in either of two jobs, honest work or stealing from the company. The wage to honest work for a short person is wS, while the wage for a tall person is wT.
A proposal has been made to replace a large heat exchanger (3 years ago, the initial cost was $85,000) with a new, more efficient unit at a cost of $120,000. The existing heat exchanger is being depreciated by the MACRS method.
Individuals may not act in the rational, calculating way described by the economic model of decision making, measuring utility and costs at the margin.
evaluate the impact of public policy on economic growth from an ethical and global position. Be sure to be specific as to which ethical posture you are taking.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd