This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Consider the following demand and supply schedules for some agricultural commodity.PriceQuantity ... (Read 113 times)

Ethanolson3

  • Full Member
  • ***
  • Posts: 146
on: Oct 12, 2022

Question 1

Consider the following demand and supply schedules for some agricultural commodity.

PriceQuantity SuppliedQuantity Demanded
 $10  300 1100
 $30  500  900
  $50  700  700
  $70  900  500
  $90 1100  300
$110 1300  100

TABLE 5-2

Refer to Table 5-2. Total farmers' revenue under the free-market equilibrium is
◦ $63 000.
◦ $15 000.
◦ $3000.
◦ $75 000.
◦ $35 000.

Question 2

Consider the following demand and supply schedules for some agricultural commodity.

PriceQuantity SuppliedQuantity Demanded
 $10  300 1100
 $30  500  900
  $50  700  700
  $70  900  500
  $90 1100  300
$110 1300  100

TABLE 5-2

Refer to Table 5-2. Consider the market-clearing equilibrium. If the government then imposes a production quota of 500 units, the price of this commodity will ________ relative to the free-market equilibrium price.
◦ rise by $20
◦ rise by $40
◦ fall by $20
◦ fall by $40
◦ remain unchanged
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Ethanolson3 on Oct 12, 2022

lhn821

  • Full Member
  • ***
  • Posts: 168
Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 35% of students answer this correctly


Ethanolson3

  • Member
  • Posts: 146
Reply 2 on: Oct 12, 2022
Gracias!

alexanderhamilton

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Common sites of amputation. (A) Upper extremities. (B) Lower extremities. The surgeon determines th Common sites of amputation. (A) Upper extremities. (B) Lower extremities. The surgeon determines th
Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies
Minerals are nonrenewable resources in limited supply Minerals are nonrenewable resources in limited supply
Growth in the demand for oil from the developing world Growth in the demand for oil from the developing world
Latitude versus Agricultural GDP per Agricultural Worker Latitude versus Agricultural GDP per Agricultural Worker
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Video: Flexor reflex & Crossed extensor reflex

For a complete list of videos, visit our video library