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- How might a drought that destroys half of all farm crops be good for farmers? If such a drought is good for farmers, why don't farmers destroy their own crops in the absence of a drought?Why is competition important in a free market? How can competition affects privces?You have a field on which you can grow two types of crops, barley and wheat. The field has 30 acres and each acre can produce 2 wheat or 3 barley. Suppose you are producing 60 barley and it is economically efficient for you to do so. How much wheat are you producing? 5 wheat 10 wheat 15 wheat 20 wheat
- 1-5. Write True if the statement is always correct for imperfect markets, otherwise, write False and explain.The following data are taken from a United States Department of Agriculture (USDA) reportfor the wheat market. b) From the information in table 2 would you predict an increase or decrease of wheatprice for 2022? Show and explain the formulae you apply.This tractor part is often replaced if producers have income. What happens to the supply and demand curves if net farm income is expected to increase by 10 percent?
- On average, a hectare produces 50 tons of bananas. For sake of simplicity, lets assume that they are only 100 hectares of bananas. Total production is then 5000 tons. Assume that disease will destroy 10% of the initial area in a year. It means that in year 0 production will be 5000 tons. In year 1 , production is 4500 tons. In year 2, production is 3500 tons .Assume the initial price is $1. Assume demand elasticity is -0.5 and supply elasticity is 1. Calculate change for each year. Note that K will be calculated based on the change of total quantity produced instead of the change in yield. You will find a negative negative which is the vertical shift generated by the disease. How does this look graphically ? Draw the graph. 2. Calculate change in consumer and producer surplus change. Note that it is not positive. Assume that the discount rate is zero.There are several variables that contribute to today's food security problem. In today's instance, what are the impact of COVID-19 pandemic on food security?Q1) A: Find the expected demand for (2020) by using SMA and WMA. Years Demand Probability 2016 8 0.11 2017 11 0.09 2018 13 0.20 2019 15 ? 2020 ?
- Edwina, a commodities broker, has acquired an option tobuy 1,000 oz of gold at $50/oz. If she takes the option and ifCongress relaxes import quotas, she can sell the gold for$80/oz. If she takes the option and Congress does not relaxthe import quotas, however, the company will lose $10/oz. Edwina believes that there is a 50% chance that the governmentwill relax the quota. She also has the option of waiting untilCongress decides whether to relax the import quota. If sheadopts this strategy, however, there is a 70% chance that someother broker will have already taken the option.a If Edwina is risk-neutral, what should she do? b If Edwina’s utility function for a change x in her as-set position is given by u(x) (10,000 x)1/2, what should she do?What is the scope of agricultural economistsFill in the Blank Question Suppose that when the price of apples is 25 cents each, there are to formers who each supply 600 apples per day, and 2 famers who each suppy 1,000 apples per day. Thus, when the price of apples is 25 cents, the market supply of apples it per doy. Need help? Review these concept resources. [I. Read About the Concept Rate your confidence to submit your answer. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
