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 128 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
Excellent

Liddy

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Detail of the Chinese-style gate of Nishi Hongan-ji in Kyoto; Momoyama period; National Treasure Detail of the Chinese-style gate of Nishi Hongan-ji in Kyoto; Momoyama period; National Treasure
taste process taste process
The sense of taste. Note: taste buds are located on the anterior and posterior portions of the ... The sense of taste. Note: taste buds are located on the anterior and posterior portions of the ...
Major muscles of the face and head. Major muscles of the face and head.
Dragon Chinese new year 2023 Dragon Chinese new year 2023
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: The Krebs Cycle Animation

For a complete list of videos, visit our video library