Why did grain prices fall

Assignment Help Microeconomics
Reference no: EM132115826

Question: Big Drops in Prices for Crops Make It Tough Down on the Farm Grain prices have fallen roughly 50 percent from earlier this year. With better-than-expected crop yields, world grain production this year will rise 5 percent from 2007 to a record high. Why did grain prices fall in 2008? Draw a graph to show that short-run effect on an individual farmer's economic profit.

Reference no: EM132115826

Questions Cloud

Describe the elasticity of demand : When Sheetz raises the price, Rutter's pumps are busy. When Sheetz lowers prices, there's not a car in sight. Both gas stations survive.
Utility function for his consumption of apples : Charlie's utility function for his consumption of apples xA and bananas xB is u(xA, xB) = xAxB.
Why does each of these gas stations have so little control : Money in the Tank Two gas stations stand on opposite sides of the road: Rutter's Farm Store and Sheetz gas station. Rutter's doesn't even have to look.
A market is in equilibrium when : 1. A market is in equilibrium when 2. A shortage will occur whenever
Why did grain prices fall : Big Drops in Prices for Crops Make It Tough Down on the Farm Grain prices have fallen roughly 50 percent from earlier this year.
What impact alfreds sleeping in had on this situation : Explain in detail what impact Alfred's sleeping in had on this situation - draw conclusions about municipal heated pools in terms of operational requirements
How the shutdown decision will affect gm chevy volt tfc : Chevy Volt Production Temporarily Shut Down GM will temporarily lay off 1,300 employees as the company stops production of the electric car.
Illustrates the importance of questioning : Which of the following is an example that illustrates the importance of questioning how economic variables are defined?
Flexibility and innovation in product and process design : Research standardization, flexibility and innovation in product/process design.

Reviews

Write a Review

Microeconomics Questions & Answers

  Determine the breakeven quantity

Labor and other operating costs are es- timated to be $35,000 per year over the study pe- riod of 5 years. Salvage is estimated at 10% of first cost and i = 12% per year. Neglect the element of availability (a) to determine the breakeven quantity,..

  The aggregate demand curve

One supply-side measure introduced by the Reagan administration was a cut in income tax rates. Use an aggregate demand/aggregate supply diagram to show what effect was intended. What might happen if such a tax cut also shifted the aggregate demand cu..

  How many firms will there be in the kite industry

Suppose that the demand for kites is given by the formula Q = 8000 - 50P, where Q is the quantity demanded and P is the price. How many kites will be sold? How many firms will there be in the kite industry

  Domestic and global competition paper

Write a Effects of Quality Management on Domestic and Global Competition Paper

  Exercise 1 quantity quotaa new chemical cleaning solution

exercise 1 quantity quotaa new chemical cleaning solution is introduced to the market. initially demand is qd 1000

  Suppose that in 1984 the total output in a single-good

suppose that in 1984 the total output in a single-good economy was 10000 buckets of chicken and the price of each

  In light of what is happening in european union today do

in light of what is happening in the european union today do you think a controlled default can occur with insolvent

  What is your equilibrium bid

Now suppose that you face two other bidders and believe that a typical competitor's value for the building lies between $2 million and $3.5 million, with all values in between equally likely. (Again, your value is $2.9 million.) Assuming your two ..

  What would be the new employees marginal product of labor

What would be the new employee's marginal product of labor? What is the value of that marginal product? Should the moving service hire a fourth worker?

  Data points to increasing numbers of individuals shopping

bulls eye department store specializes in the sales of discounted clothing shoes household items etc. similar to the

  Assume mpc is 08 initially households then change the

suppose mpc is 0.8 initially. households then change their behavior so that the mpc falls to 0.75. what happens to

  What legal issues need to be considered regarding the case

What legal issues need to be considered regarding case? Discuss case from both Sue and Kendra's point of view. What ethical concerns are presented in this case?

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd