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Vesnalui [34]
3 years ago
15

cientists have developed a bacteria that they believe will lower the freezing point of agricultural products. This innovation co

uld save farmers $1 billion a year in crops now lost to frost damage. If this technology becomes widely used, what will happen to the equilibrium price and quantity in, for example, the potato market?

Business
1 answer:
alex41 [277]3 years ago
5 0

Answer:

equilibrium price would fall and equilibrium quantity would increase

Explanation:

The discovery would reduce the amount of crops now lost to frost damage and increase the supply of crops e.g. potato.

As a result of the increase in supply, there would be an excess of supply over demand equilibrium price would fall and quantity would increase

Please check the attached image for a graph showing increase in supply

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Paraphin [41]

A U.S. government agency that works to assist small businesses is called the Small Business Administration(SBA).

<h3>What does the Small Business Administration do?</h3>

The Small Business Administration was established under the Eisenhower tenure in order to boost the nation's economy.

They work to help small businesses by offering them several types of support such as management training and loans.

Find out more on the Small Business Administration at brainly.com/question/13424073.

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7 0
1 year ago
If you were the leader of a special-purpose team developing a new computer game and conflicts arose related to power and status
Mice21 [21]
I would listen to the team’s differences and finally come to an agreement that will be the best benefit for everyone.
6 0
2 years ago
When the price is $12 the quantity demanded is 50. When the price increases to $24 the quantity demanded decreases to 30. Calcul
Allushta [10]

Answer:

PED = -0.4 or |0.4| in absolute terms

Explanation:

price elasticity of demand (PED) = % change in quantity demanded / % change in price

  • % change in quantity demanded = [(30 - 50) / 50] x 100 = -40%
  • % change in price = [($24 - $12) / $12] x 100 = 100%

PED = -40% / 100% = -0.4 or |0.4| in absolute terms

the demand is price inelastic since |0.4| < 1

this means that the change in quantity demanded is proportionally less than the change in price.

6 0
3 years ago
Homer has decided to buy a trampoline. the trampoline costs $2000.00. he borrows the money from the springfield bank at an inter
Elodia [21]
Finance Charge = Balance x Interest rates

Since Philip has passed the full year since the initial credit, we use the full 19% for the calculation.

So, the finance charge is:

$ 2,000 x 19%

= $ 380
6 0
3 years ago
In the Keynesian-cross model with a given MPC &gt;0, the government-expenditure multiplier ______ the tax multiplier.
Slav-nsk [51]

Answer:

the government-expenditure multiplier _Is larger than_ the tax multiplier.

Is larger than

Explanation:

Keynesian Cross Model otherwise known as expenditure-output model is used to determine the point where total or aggregate expenditures in the economy are intercept the amount of output produced, i.e equilibrium level of real GDP. In economy, if MPC >0, the government-expenditure multiplier is larger than the tax multiplier.

5 0
3 years ago
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