Macroeconomics
13th Edition
ISBN: 9780134735696
Author: PARKIN, Michael
Publisher: Pearson,
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Chapter 10, Problem 18APA
To determine
Calculation of HHI.
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Step 1: Define agriculture industry
Agriculture being the primary sector, it not only includes arable farming but also animal husbandry, horticulture, and forestry. The article provided in the question talks about animal husbandry, which is a kind of agricultural practice where animals are raised on farms for their meat, fibre, and dairy products. Animals are selectively bred and raised for economic profit.
Step 2: Answer
(1) The author highlights the prosecutor's comparison of injured piglets to dented cans in a grocery store, as he wanted to underscore the dehumanization and commodification of animals. The main aim of the author was to invoke empathy among the readers. Just like a dented can in a grocery store, which is nothing but a commodity that is discarded due to its dent, pigs and other animals on farms are raised until they have the potential to provide a certain amount of economic profit, but if they get injured, they lose their economic value to the farmer and thus would be…
Analyze the main economic activity of Toyota and Identify the type of market structure the Toyota falls into stating reasons explaining such classification.
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Look at the Data Below then answer/calculate the totals in the questions that follow. (Show Workings)
Entrepreneur's potential earnings as a salaried worker = $50,000
Annual lease on building = $22,000
Annual revenue from operations = $380,000
Payments to workers = $120,000
Utilities (electricity, water, disposal) costs = $8,000
Entrepreneur's potential economic profit from the next best entrepreneurial activity = $80,000
Entrepreneur's forgone interest on personal funds used to finance the business = $6,000
Answer these questions directly:
a) Creamy Crisp's explicit costs are:
b) Creamy Crisp's implicit costs (total) are :
c) Creamy Crisp's total economic costs (explicit + implicit costs) are:
d) Creamy Crisp's accounting profit is:
e) Creamy Crisp's economic profit is:
f) If Creamy Crisp's revenue fell to $286,000, what is the new accounting profit and the new economic profits?
Chapter 10 Solutions
Macroeconomics
Ch. 10.1 - Prob. 1RQCh. 10.1 - Prob. 2RQCh. 10.1 - Prob. 3RQCh. 10.1 - Prob. 4RQCh. 10.1 - Prob. 5RQCh. 10.2 - Prob. 1RQCh. 10.2 - Prob. 2RQCh. 10.2 - Prob. 3RQCh. 10.2 - Prob. 4RQCh. 10.3 - Prob. 1RQ
Ch. 10.3 - Prob. 2RQCh. 10.3 - Prob. 3RQCh. 10.4 - Prob. 1RQCh. 10.4 - Prob. 2RQCh. 10.4 - Prob. 3RQCh. 10.4 - Prob. 4RQCh. 10.5 - Prob. 1RQCh. 10.5 - Prob. 2RQCh. 10.5 - Prob. 3RQCh. 10 - Prob. 1SPACh. 10 - Prob. 2SPACh. 10 - Prob. 3SPACh. 10 - Prob. 4SPACh. 10 - Prob. 5SPACh. 10 - Prob. 6SPACh. 10 - Prob. 7SPACh. 10 - Prob. 8APACh. 10 - Prob. 9APACh. 10 - Prob. 10APACh. 10 - Prob. 11APACh. 10 - Prob. 12APACh. 10 - Prob. 13APACh. 10 - Technological and Economic Efficiency Use the...Ch. 10 - Prob. 15APACh. 10 - Prob. 16APACh. 10 - Prob. 17APACh. 10 - Prob. 18APACh. 10 - Prob. 19APACh. 10 - Prob. 20APACh. 10 - Prob. 21APACh. 10 - Prob. 22APACh. 10 - Prob. 23APA
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