Answered: Discuss any four variables in the…

Business

Economics

Discuss any four variables in the macro‐environment you believe to have the most impact on the CBD oil market.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter22: Supply: The Costs Of Doing Business

Section: Chapter Questions

Problem 5E

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a) Derive the goods market demand curve in terms of the output (Y) and the exogenousvariables:c0,c1,b0,b1,g0,g1andT. Show your work for full credit. b)Draw the Goods Market Equilibrium. Be sure to label all curves, label the equilibrium point, and label the slope of each curve. c)Solve for the equilibrium output (Y) in terms of the exogenous variables:c0,c1,b0,b1,g0,g1andT. Show your work for full credit. d)Supposeg1increases, but stillc1+b1+g1<1. Using a graph of the goods market, show how we would represent an increase in the value ofg1on equilibrium output y. Be sure to label all axes, curves, and equilibrium points. e)Suppose instead,c1+b1+g1= 0. Is the equilibrium in the goods market still possible? If so, what is the equilibrium output? You must explain your answer to receive full credit.
Northern Mexico faces the worst drought in its history. Its effects will exceed those caused by El Niño in 1998. The Mexican government is expected to declare the 12 northern states a disaster zone in the coming days. Juan Figueroa Fuentes, president of Agrobarzón, warned that if it does not rain in the next few days, more than 250,000 hectares sown with wheat, corn and sorghum will be lost. In addition, 170,000 hectares will stop being planted with other crops since it will be too late when it rains. In the same way, 50,000 cattle will die. On the other hand, drought and high temperatures have contributed this year to an increase in the number of forest fires. An estimated 10,000 hectares of forest have been lost due to fires. What will happen to the equilibrium price and quantity in the beef market?Response option group (a) Price and quantity will increase (b) Price and quantity will decrease (c) Price will decrease and quantity will increase (d) The price is higher and the…
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