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pishuonlain [190]
3 years ago
13

Suppose that in the rice market demand shifts due to a new rice diet that is being marketed in the U.S. as a cure for cancer. Si

multaneously the supply curve shifts due to a flood that affects the rice crop in California. What is the most likely outcome in this situation
Business
1 answer:
Soloha48 [4]3 years ago
8 0

Answer:

The equilibrium price will increase

Explanation:

Equilibrium price is defined as the price at which the quantity demanded and quantity supplied are equal.

At this point there is no excess demand or supply, they are both equal.

I'm the given scenario the new rice diet that is being marketed in the U.S. as a cure for cancer will lead to increase in demand for rice.

While a flood that affects the rice crop in California will reduce the ability of suppliers to supply. Leading to reduced quantities supplied to the market.

This results in increased prices for the now scarce rice in the economy

It is illustrated in the attached diagram where price increases from P1 to P2.

The new equilibrium quantity is Q1

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decides to use the needs approach to determine how much life insurance to buy. Her cash needs are $30,000; her income needs are
nadya68 [22]

Answer:

$130,000

Explanation:

For determining the additional life insurance required first we need to follow some steps which are shown below:-

Step 1

Total needs = Cash needs + Income needs + Special needs

= $30,000 + $140,000 + $100,000

= $270,000

Step 2

Total assets held = Bank accounts + Retirement plans + Investment accounts

= $20,000 + $30,000 + $40,000

= $90,000

Step 3

Total amount of life = $270,000 - $90,000

= $180,000

and finally

Additional life insurance required =

The Total amount of life - Life insurance provided by the employer

= $180,000 - $50,000

= $130,000

3 0
4 years ago
A 100,000 loan is being repaid in 360 monthly installments at a 9% nominal annual interest rate compounded monthly. The first pa
skad [1K]

Answer:

The payment after 1 year will be

F=P(1+i)^n

n=1 year

P=100,000

F=100000(1+0.09)

F=109000 after 1 year

interest=9/100*100000=90000

exceeded payment=109000-90000=19000

6 0
3 years ago
Read 2 more answers
Which of the following people would be happy with a $10 price ceiling in this market for movie theatre popcorn bags?
dalvyx [7]

Answer:

producers of the bags of popcorn because they will sell more to the movie theater

4 0
3 years ago
A peach farmer must decide how many peaches to harvest for the world peach fair. He knows that there is a 25 percent chance that
noname [10]

Answer:

The correct option is a. $61.25.

Explanation:

Note: The correct cost function of the farmer is as follows:

C(Q) = 0.05Q^2 ……………….. (1)

Differentiating equation

MC = C’(Q) = 0.1Q

P = Expected price = (25% * $3) + (50% * $3.50) + (25% * $4) = $3.50 ……. (2)

Since profit is maximized when MC = P, we equate equations (1) and solve for Q which is the expected profit-maximizing quantity as follows:

0.1Q = 3.50

Q = 3.50 / 0.1 = 35

Substituting Q = 35 into equation (1), we have:

C(Q) = 0.05 * 35^2 = $61.25

R(Q) = Maximum expected revenue = P * Q = $3.50 * 350 = $122.50

The farmer's maximum expected profit = R(Q) - C(Q) = $122.50 - $61.25 = $61.25

Therefore, the correct option is a. $61.25.

3 0
3 years ago
You are working in an open-plan office. the workstations are badly arranged. you do not have sufficient space to store everythin
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7 0
4 years ago
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