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Unseasonably high termperatures and continuing drought are endangering California's avocado crop. Those in the industry fear that if the worst case is realied, the 2017 crop could be substantially smaller than normal. Please describe how these developments would be reflected in relevant markets. Explicitly address these three points:
1) Describe any movements you would expect to see in the demand and supply curves in affexted markets.
2) Given the dynamics you described in conjuction with #1, what effect would you expect to see in equilibrium market quantity? Why?
3) Based on what you descrIbe in #1 & #2, what impacts would you expect to find the on the demend and/or supply curves of the restaurant industry?
Suppose the NNPmp of a country is ₹1600cr. If the indirect tax is ₹100cr and total amount of subsidy is ₹80,find out the level of national income of the country.
How is Peggy doing relative to her predominantly male counterparts in 2015 dolalrs?

A restaurant is considering adding a new employee. The marginal cost of the new worker is the







A.

amount paid to all current workers.



B.

amount paid to all the​ workers, both the new one and the current workers.



C.

amount paid to the new worker.



D.

additional revenue created by having an additional worker.


QUESTION 2

Ceteris paribus, an increase in the demand for yoga services has occurred at the same time when the number of yoga service providers has decreased due to stricter government regulations. Using demand and supply analysis, explain the impact on price and quantity in the market for yoga services?
(HINT: THERE ARE 2 FACTORS WORKING AT THE SAME TIME)

QUESTION 3

Recently, due to the discovery of bird flu, the Swedish government ordered the culling of a few hundred thousand chickens. This was accompanied, at the same time, by a fall in demand for live chickens. Using demand and supply analysis, explain the impact on price and quantity in the market for live chickens?
(HINT: THERE ARE 2 FACTORS WORKING AT THE SAME TIME)





In 2010 Wisconsin went from a closed shop state to a right to work state. Teachers' unions disliked the change and protested violently. Paul Krugman, a Nobel Prize winner, Princeton economic professor, wrote an article against the change and in support of the unions. He looked at a study from the federal department of education that showed that k-12 average test scores in Wisconsin were higher than in Texas, a right to work state with non-unionized teachers. Two economists from the University of Chicago which has on the top economic departments in the country, broke the same data down by race and found that Asians in Texas had higher avg test scores than in Wisconsin, Caucasians in Texas had higher average test scores than in Wisconsin, African-Americans in Texas had higher average test scores than in Wisconsin and Hispanics in Texas has higher average test scores than in Wisconsin. Both sides made correct statements. How can they be reconciled and what does it say about Krugman's argument?
Contrast the effects of a cash dividend and a stock dividend on a corporation's balance sheet. Which would you rather receive if you were a stockholder?
How do the financial statements for a corporation differ from the statements for a proprietorship? Do you feel that the general public understands the owner equity section of each type of business?
An economy consists of three workers, Larry, Moe, and Curly. Each works ten hours a day and can produce two services: mowing lawns and washing cars. In an hour, Larry can either mow one lawn or wash one car; Moe can either mow one lawn or wash two cars; and Curly can either mow two lawns or wash one car.
Scenario 1: All three spend all their time mowing lawns. Then lawns will be mowed and cars will be washed.
Scenario 2: All three spend all their time washing cars. Then lawns will be mowed and cars will be washed
Scenario 3: All three spend half their time on each activity. Then lawns will be mowed and cars will be washed.
Scenario 4: Larry spends half his time on each activity, while Moe only washes cars and Curly only mows lawns. Then lawns will be mowed and cars will be washed.
Exactly one of the scenarios above is inefficient. That is Scenario