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

Author Question: Suppose domestic beef producers face demand of QD = 1000 - 5P. Suppose the Chinese acquire a taste ... (Read 94 times)

rachel9

  • Sr. Member
  • ****
  • Posts: 495
on: Jul 1, 2018
Suppose domestic beef producers face demand of QD = 1000 - 5P. Suppose the Chinese acquire a taste for U.S. beef such that their demand is QD = 500 - 5P. Market demand is now
 a. 1000 - 10P for all P
  b. 1500 - 10P for all P
  c. 1500 - 5P for all P
  d. 1000 - 5P for P > 100 and 1500 - 10P for P < 100

Question 2

Suppose domestic beef producers face demand of QD = 1000 - 5P. In the very short run 500 head of beef are produced. Suppose mad cow strikes a portion of the national herd and the amount brought to market falls to 400 . The price per head will rise by
 a. 10
  b. 30
  c. 30
  d. 50


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mohan

  • Sr. Member
  • ****
  • Posts: 362
Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

b


rachel9

  • Member
  • Posts: 495
Reply 2 on: Jul 1, 2018
Gracias!

alexanderhamilton

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

The face of a caterpillar with the mouthparts showing The face of a caterpillar with the mouthparts showing
Growth in the demand for oil from the developing world Growth in the demand for oil from the developing world
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 ...
Beef tacos Beef tacos
beef on weck Buffalo beef on weck Buffalo
Chinese Dragon new year 2024 Chinese Dragon new year 2024
Video: Major Elements in Biological Molecules: Nucleic acids

For a complete list of videos, visit our video library