With the aid of supply and demand diagrams

Assignment Help Business Economics
Reference no: EM131005173

At the beginning of the 20th century almost two out of every five working Americans worked in agriculture. Today this number has fallen to less than one in fifty. At the same time, the total value of agricultural production represents an ever smaller portion of the total value of goods produced in the American economy. With the aid of supply and demand diagrams, carefully explain why this is so.

Reference no: EM131005173

Questions Cloud

Which concepts are most applicable to each scenario : Decide which of the following concepts are most applicable to each scenario: differential reinforcement of other behavior, avoidance contingency, punishment by prevention of reinforcer, punishment by loss of reinforcer, or avoidance of loss
How externalities both external costs and external benefits : With the aid of diagrams explain how externalities (both external costs and external benefits) can generate market failure.
Consider a competitive market characterized : Consider a competitive market characterized by the following supply and demand formulas: Demand: P = 105 - 0.25QD Supply: P = 0.275QS (a) Show the supply and demand curves and the equilibrium price and quantity in this market in a diagram. (b) With t..
Operating breakeven point and financial breakeven point : LPM Corporation sells its product for $10 each. Fixed operating costs equal $100,000, and variable operating costs are 75 percent of the selling price. The firm pays $37,500 in interest, and its marginal tax rate is 35 percent. What are LPM's oper..
With the aid of supply and demand diagrams : At the beginning of the 20th century almost two out of every five working Americans worked in agriculture. Today this number has fallen to less than one in fifty. At the same time, the total value of agricultural production represents an ever smaller..
List the key nonprice determinants of demand : List the key nonprice determinants of demand and also explain exactly how each of these affects demand. List the key nonprice determinants supply and also explain exactly how each of these affects supply.
Diagrams demonstrate that any effectve price controls : With the aid of diagrams demonstrate that any effectve price controls in a market will reduce the actual quantity bought and sold in that market.
How they apply to personality and behavior : Create a 2- to 3-page brochure including graphics, on traditional psychodynamic theories. Describe personality. Discuss the main tenets of each theory, how they apply to personality and behavior, and the strengths and limitations of each theory
Shortage of college football tickets for some home games : There is a shortage of college football tickets for some home games and a surplus of tickets for other home games that are played by a given college team. With the aid of diagrams, carefully explain how and why this does happen and also explain how a..

Reviews

Write a Review

Business Economics Questions & Answers

  What is cross elasticity of demand

What is cross elasticity of demand? How can it be used to tell if goods are substitutes for each other or complementary to each other? What is the rationing function of prices? Should health care be subject to this type of rationing? Be sure to comme..

  What is the equal payment series

What is the equal payment series for 10 years that is equivalent to a payment series starting with $30,000 at the end of the first year and decreasing by $3,000 each year over 10 years? interest is 8% compounded annually.

  What is your gain or loss

Suppose that you are a borrower with a project that has a rate of return of 6.8%. You submit a bid to borrow $1,000 at an interest rate of 5%, and a lender accepts your offer. After you fund your project and pay back your loan, what is your gain or l..

  Market demand for long-playing records

Over the years the market demand for “long-playing records made of polyvinyl has fallen considerably as new technologies replaced the old “lp” yet lps are still available for sale and they sell at price points higher (in some cases much higher) than ..

  Difference between the optimal level or the amount generated

What is the difference between the optimal level of total consumption minus the amount of total consumption generated by the market

  What quantity would a profit-maximizing publisher choose

Compute total revenue, total cost also profit at each quantity. Illustrate what quantity would a profit-maximizing publisher choose. Illustrate what price would it charge.

  What was the total cost to firm of issuing the securities

Suppose that a biotech firm in Pittsburgh raised $113 million in an IPO. The firm received $23 per share, and the stock sold to the public for $25 per share. The firm’s legal fees, SEC registration fees, and other out-of-pocket costs were $657,500. T..

  Occasional currency interventions by central banks

Which system would be accompanied by occasional currency interventions by central banks to stabilize or alter rates to avoid persistent balance of payments deficits or surpluses.

  Prepares tax returns and does bookkeeping

Julia prepares tax returns and does bookkeeping. Last year her revenues from the tax and bookkeeping business were $150,000, and her expenses for the business were $15,000. When she started her tax and bookkeeping business, Julia gave up her suppleme..

  Life insurance policies typically have clauses stipulating

Life insurance policies typically have clauses stipulating the insurance company will not pay claims arising from suicide for a specified term—typically two years from the date the policy was issued. Use precise economic terminology to explain the li..

  Fundamental economic concepts

Consider the following statement by Charles Wheelan, author of the Naked Economist: “The problem with Asian sweatshops is that there are not enough of them.” How is Wheelan’s statement illustrative of fundamental economic concepts?

  Validate orthodox or heterodox theory of economic process

Economist L. Randall Wray writes in a paper, “[t]his approach, [M-C-M’], is suited to the study of realworld capitalist economies that can be characterized as operating at less than full capacity as the normal situation]. Give two common sense reason..

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