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amid [387]
3 years ago
14

Consider the market for corn. Indicate whether each of the following events will cause a shift in the demand curve or a movement

along the curve. If it will cause a shift, specify the direction. a. A drought hits corn-growing regions, cutting the supply of corn: . b. The government announces a new subsidy for biofuels made from corn: . c. A global recession reduces the incomes of consumers in poor countries, who rely on corn as a staple food (assuming corn is a normal good): . d. A new hybrid variety of corn seed causes a 15 percent increase in the yield of corn per acre: .
Business
1 answer:
Salsk061 [2.6K]3 years ago
4 0

Answer:

a) MOVEMENT ALONG THE CURVE

b) MOVEMENT ALONG THE CURVE

c) SHIFT TO THE LEFT

d) MOVEMENT ALONG THE CURVE

Explanation:

There is a MOVEMENT ALONG THE CURVE when there is a variation in the price of the good.

On the other hand, there is a SHIFT when any of the variables other than the price of the good changes (for example: the income of the consumers, the tastes of the consumers, the prices of related goods -substitutes or complementary-, the size of the market). When the curve shifts to the left this indicates a decrease in demand. When it moves to the right it indicates an increase in demand.  

a) A drought hits corn-growing regions, cutting the supply of corn. MOVEMENT ALONG THE CURVE. The decrease of the offer will cause an increase in the price, and consequently a decrease in the quantity demanded.

b) The government announces a new subsidy for biofuels made from corn. MOVEMENT ALONG THE CURVE. As a result of the subsidy, the demand for corn by biofuel manufacturers will increase, which will cause an increase in the price of corn, and consequently a decrease in consumer demand.

c) A global recession reduces the incomes of consumers in poor countries, who rely on corn as a staple food (assuming corn is a normal good). A SHIFT TO THE LEFT IN THE DEMAND CURVE. The reduction of income will cause a decrease in demand.

d) A new hybrid variety of corn seed causes a 15 percent increase in the yield of corn per acre. MOVEMENT ALONG THE CURVE. Corn supply increases and consequently the price decreases, which causes an increase in demand.

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The procedure that best discourages the resubmission of vendor invoices after they have been paid is
Katena32 [7]

Answer:

The cancellation of vouchers by treasurer personnel

Explanation:

When a business uses vendors for some of its service needs there is the possibility of paying vendors twice for the same service of invoice is submitted twice.

The treasurer is the person that disbursed funds to vendors for services rendered. He is tasked with cross checking if payments are duplicated.

To avoid this it is best to have the treasurer personnel cancel vouchers that have been paid.

This will provide an effective check on duplicate payments.

4 0
3 years ago
Describe the types of information employees at an apple store require and compare it to the types of information the executives
labwork [276]
Both must be familiar with the new and old products as well as updates and quick fixes. However those in corporate are in charge of developing new products and keeping the older ones updated.
5 0
3 years ago
Honest Tea's mission statement is "Honest Tea seeks to create and promote great-tasting, organic beverages. We strive to grow ou
Ilya [14]

Answer:

b Sense-of-mission marketing

Explanation:

This is the sustainable marketing principle that holds an organization also it defines the mission in social terms at broad level instead of the narrow terms of the product

Since in the question it is mentioned that the company used the natural ingredients and promotes the fair trades with the suppliers. So here it is the sense of mission marketing principle

Hence, the option b is correct

6 0
3 years ago
A(n) _____ might be sent to a potential employer even when the employer does not have any job openings at the time to be kept on
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It would probably be a résumé because they always hold onto it so they can consider it when there are job openings
5 0
3 years ago
3. Lesley bought 4 bags of pretzels and 2 boxes of granola bars for $13.50. Landon bought 1 bag of pretzels and 5 boxes of grano
velikii [3]

Answer:

Problem 3: Let x = price of bag of pretzels Let y = price of box of granola bars  

We have Lesley's purchase: 4x+2y=13.50

And Landon's: 1x+5y=17.55

We can use the elimination method. Let's negate Landon's purchase by multiplying by -1. -1x-5y=-17.55

We add this four times to Lesley's purchase to eliminate the x variable.

2y-20y=13.50-70.2

-18y=-56.7

y = $3.15 = Price of box of granola bars

Plug back into Landon's purchase to solve for pretzels.

x+5*3.15=17.55

x+15.75=17.55

x = $1.80 = price of bag of pretzels

 

Problem 4.

Let w = number of wood bats sold

Let m = number of metal bats sold

From sales information we have: w + m = 23

24w+30m=606

Substitution works well here. Solve for w in the first equation, w = 23 - m, and plug this into the second.

24*(23-m)+30m=606

552-24m+30m=606

6m=54

m=9 = number of metal bats sold

Therefore since w = 23-m, w = 23-9 = 14. 14 wooden bats were sold.

Explanation:

6 0
2 years ago
Read 2 more answers
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