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7. The next 2 parts to this question give changes that have occurred in the broiler chicken market. For each change in a determinant given, draw in the change that would occur on the supply/demand graph for chicken that is provided. Be sure and review what causes the curve to shift and what causes a movement along the curve as well as what determinants affect supply and what affect demand. Once you have drawn in your change, write a short explanation for each question discussing what would be the new equilibrium price and quantity levels due to the change. In other words, has equilibrium price or quantity increased, decreased or stayed the same, etc. (To draw in changes on the graph in Microsoft Word, you will go to the Insert menu and select Shapes and then choose lines or arrows to draw in your shifts or show movement along the supply or demand curves.) A. In the chicken market, assume there have been substantial technological advancements made in the production processes for producing chicken. At the same time, consumer income has decreased (assume chicken is a normal good). Chicken Market B. Chicken and beef are substitute products. Assume the price of beef has increased considerably. What happens in the chicken market? D Chicken Market7. The next 2 parts to this question give changes that have occurred in the broiler chicken market. For each change in a determinant given, draw in the change that would occur on the supply/demand graph for chicken that is provided. Be sure and review what causes the curve to shift and what causes a movement along the curve as well as what determinants affect supply and what affect demand. Once you have drawn in your change, write a short explanation for each question discussing what would be the new equilibrium price and quantity levels due to the change. In other words, has equilibrium price or quantity increased, decreased or stayed the same, etc. (To draw in changes on the graph in Microsoft Word, you will go to the Insert menu and select Shapes and then choose lines or arrows to draw in your shifts or show movement along the supply or demand curves.) A. In the chicken market, assume there have been substantial technological advancements made in the production processes for producing chicken. At the same time, consumer income has decreased (assume chicken is a normal good). Chicken Market B. Chicken and beef are substitute products. Assume the price of beef has increased considerably. What happens in the chicken market? D Chicken Market8. Find an article that identifies a change in supply or a change in demand. Use the article to fulfill the following instructions and questions: a) Copy and paste the article into your homework assignment. Be sure and cite your reference for the article. Indicate the source, author, title, date, and page for the article you have chosen. b) Write a short summary addressing the following items: i. What shift occurred in either supply or demand and in which direction would the supply or demand have shifted. ii. What factor changed that caused the shift. Describe the changes in the factor that have occurred. iii. Indicate evidence in the article of whether the market is an international, national, regional, or local market. 9. Read the article, The Price of Wine is Dropping Fast, provided at the following: https://www.cnn.com/2020/02/16/business/grape-surplus-cheap-wine- trnd/index.htmlAnswer the following three questions: a. What factors led to an increase in the supply of wine? b. What factors led to a decrease in demand for wine? c. What will the industry need to do to restore the long-term equilibrium in this market? 10. Explain what an externality is and then give an example. How can government correct a negative externality? How can government encourage a positive externality?8. Find an article that identifies a change in supply or a change in demand. Use the article to fulfill the following instructions and questions: a) Copy and paste the article into your homework assignment. Be sure and cite your reference for the article. Indicate the source, author, title, date, and page for the article you have chosen. b) Write a short summary addressing the following items: i. What shift occurred in either supply or demand and in which direction would the supply or demand have shifted. ii. What factor changed that caused the shift. Describe the changes in the factor that have occurred. iii. Indicate evidence in the article of whether the market is an international, national, regional, or local market. 9. Read the article, The Price of Wine is Dropping Fast, provided at the following: https://www.cnn.com/2020/02/16/business/grape-surplus-cheap-wine- trnd/index.htmlAnswer the following three questions: a. What factors led to an increase in the supply of wine? b. What factors led to a decrease in demand for wine? c. What will the industry need to do to restore the long-term equilibrium in this market? 10. Explain what an externality is and then give an example. How can government correct a negative externality? How can government encourage a positive externality?A medical study was carried out between 1 January 2001 and 1 January 2006, to assess the survival rates of cancer patients. The patients all underwent surgery during 2001 and then attended 3-monthly check-ups throughout the study. The following data were collected: For those patients who died during the study exact dates of death were recorded as follows: Patient Date of surgery Date of death 1 April 2001 1 August 2005 1 April 2001 1 October 2001 1 May 2001 1 March 2002 1 September 2001 1 August 2003 E 1 October 2001 1 August 2002 For those patients who survived to the end of the study: Patient Date of surgery 1 February 2001 1 March 2001 1 April 2001 1 June 2001 1 September 2001 1 September 2001 1 November 2001 For those patients with whom the hospital lost contact before the end of the investigation: Patient Date of surgery Date of last check-up M 1 February 2001 1 August 2003 N 1 June 2001 1 March 2002 1 September 2001 1 September 2005A medical study was carried out between 1 January 2001 and 1 January 2006, to assess the survival rates of cancer patients. The patients all underwent surgery during 2001 and then attended 3-monthly check-ups throughout the study. The following data were collected: For those patients who died during the study exact dates of death were recorded as follows: Patient Date of surgery Date of death 1 April 2001 1 August 2005 1 April 2001 1 October 2001 1 May 2001 1 March 2002 1 September 2001 1 August 2003 E 1 October 2001 1 August 2002 For those patients who survived to the end of the study: Patient Date of surgery 1 February 2001 1 March 2001 1 April 2001 1 June 2001 1 September 2001 1 September 2001 1 November 2001 For those patients with whom the hospital lost contact before the end of the investigation: Patient Date of surgery Date of last check-up M 1 February 2001 1 August 2003 N 1 June 2001 1 March 2002 1 September 2001 1 September 2005com/document/d/lysin Add-ons Help. All changes Saved In Drive Arial 11 BIUAS 3 5 1 Each answer is expected to be a minimum of (5 pages)10 total typewriting pages 1. A large, and continuously developing, body of research has revealed that biological and environmental sources collectively influence all measurable traits. While a substantial portion of this literature has focused primarily on the independent influences stemming from biology and environments, other work as focused on how both sets of influences work collectively. What are the primary ways in which genetic and environmental influences work together to shape behavior? In your answer be sure to: a) Explain the two main categories of gene-environment interplay as well as any subtypes within each category bj Relate your discussion of each category to behavioral outcomes c) Provide specific examples within your discussion 2. Various biological influences have been found to implicated in the development of various behaviors, including but not limited to antisocial behavior. With that said, the processes linking blogy and behavior are complex with multiple linkages, feedback loops, and interactions. Despite this complexity, we have made tremendous progress in specifying these processes and. as a result, shedding additional light on the ways behavioral differences form. Using a specific example, provide an overview of some of the primary linkages in the overall process that connects an environmental influence to a specific behavior. In your answer be sure to: a) Choose a specific environmental influence (can be positive or negative) b) Identify specific biological processes that connect the chosen environment to behavior (you DO NOT need to be exhaustive here, but you do need to focus on one to two specific processes) c) Identify a specific behavioral outcome (again, positive or negative) that has been found to be correlated with the environmental influence you have selected dj Discuss the linkages between the environmental influence you selected, the biological processes you wish to highlight, and your selected behavior Ocom/document/d/lysin Add-ons Help. All changes Saved In Drive Arial 11 BIUAS 3 5 1 Each answer is expected to be a minimum of (5 pages)10 total typewriting pages 1. A large, and continuously developing, body of research has revealed that biological and environmental sources collectively influence all measurable traits. While a substantial portion of this literature has focused primarily on the independent influences stemming from biology and environments, other work as focused on how both sets of influences work collectively. What are the primary ways in which genetic and environmental influences work together to shape behavior? In your answer be sure to: a) Explain the two main categories of gene-environment interplay as well as any subtypes within each category bj Relate your discussion of each category to behavioral outcomes c) Provide specific examples within your discussion 2. Various biological influences have been found to implicated in the development of various behaviors, including but not limited to antisocial behavior. With that said, the processes linking blogy and behavior are complex with multiple linkages, feedback loops, and interactions. Despite this complexity, we have made tremendous progress in specifying these processes and. as a result, shedding additional light on the ways behavioral differences form. Using a specific example, provide an overview of some of the primary linkages in the overall process that connects an environmental influence to a specific behavior. In your answer be sure to: a) Choose a specific environmental influence (can be positive or negative) b) Identify specific biological processes that connect the chosen environment to behavior (you DO NOT need to be exhaustive here, but you do need to focus on one to two specific processes) c) Identify a specific behavioral outcome (again, positive or negative) that has been found to be correlated with the environmental influence you have selected dj Discuss the linkages between the environmental influence you selected, the biological processes you wish to highlight, and your selected behavior O1. A large, and continuously developing, body of research has revealed that biological and environmental sources collectively influence all measurable traits. While a substantial portion of this literature has focused primarily on the independent influences stemming from biology and environments, other work as focused on how both sets of influences work collectively. What are the primary ways in which genetic and environmental influences work together to shape behavior? In your answer be sure to: a) Explain the two main categories of gene-environment interplay as well as any subtypes within each category b) Relate your discussion of each category to behavioral outcomes c) Provide specific examples within your discussion 2. Various biological influences have been found to implicated in the development of various behaviors, including but not limited to antisocial behavior. With that said, the processes linking biology and behavior are complex with multiple linkages, feedback loops, and interactions. Despite this complexity, we have made tremendous progress in specifying these processes and, as a result, shedding additional light on the ways behavioral differences form. Using a specific example, provide an overview of some of the primary linkages in the overall process that connects an environmental influence to a specific behavior, In your answer be sure to a) Choose a specific environmental influence (can be positive or negative) bj Identify specific biological processes that connect the chosen environment to behavior (you DO NOT need to be exhaustive here, but you do need to focus on one to two specific processes) c) Identify a specific behavioral outcome (again, positive or negative) that has been found to be correlated with the environmental influence you have selected dj Discuss the linkages between the environmental influence you selected, the biological processes you wish to highlight, and your selected behavior +1. A large, and continuously developing, body of research has revealed that biological and environmental sources collectively influence all measurable traits. While a substantial portion of this literature has focused primarily on the independent influences stemming from biology and environments, other work as focused on how both sets of influences work collectively. What are the primary ways in which genetic and environmental influences work together to shape behavior? In your answer be sure to: a) Explain the two main categories of gene-environment interplay as well as any subtypes within each category b) Relate your discussion of each category to behavioral outcomes c) Provide specific examples within your discussion 2. Various biological influences have been found to implicated in the development of various behaviors, including but not limited to antisocial behavior. With that said, the processes linking biology and behavior are complex with multiple linkages, feedback loops, and interactions. Despite this complexity, we have made tremendous progress in specifying these processes and, as a result, shedding additional light on the ways behavioral differences form. Using a specific example, provide an overview of some of the primary linkages in the overall process that connects an environmental influence to a specific behavior, In your answer be sure to a) Choose a specific environmental influence (can be positive or negative) bj Identify specific biological processes that connect the chosen environment to behavior (you DO NOT need to be exhaustive here, but you do need to focus on one to two specific processes) c) Identify a specific behavioral outcome (again, positive or negative) that has been found to be correlated with the environmental influence you have selected dj Discuss the linkages between the environmental influence you selected, the biological processes you wish to highlight, and your selected behavior +C) It is positively related to the elasticity of supply. D) It is the reciprocal of the elasticity of supply. 14. Suppose the demand for a drug is completely inelastic while the supply is elastic. The burden of a per unit tax on the drug will A) be shared by the buyers and sellers. B) fall entirely on the sellers. C) fall entirely on the buyers D) fall on neither the buyers nor the sellers. 15. Suppose that an individual allocates his or her entire budget between two goods, food and clothing. Can both goods be inferior? Explain. Both goods A. can be inferior because more is not necessarily preferred to less. B. can be inferior if they are substitute goods. C. can be inferior because an increase in income does not have to be spent on either good. D. cannot be inferior because an increase in income must be spent on one of the two goods. E. cannot be inferior if they are complementary goods. 16. A Giffen good A. has a downward sloping demand curve. B. has an upward sloping demand curve. C. will experience an increase in demand as consumer's income increases. D. will never be purchased. 17. When the price of good X increases and all goods (including X) are normal goods, the income effect leads consumers to buy A. more of good X and less of other goods. B. less of all goods. C. more of all goods. D. less of good X and more of other goods. 18. A monopolist maximizes profits at a quantity where A. Total Revenue equals Total Cost B. Marginal Revenue equals Marginal Cost C. Price equals Marginal Cost D. Price equals Average Cost 19. Isocost lines are straight because the slope of such lines A. equals the ratio of the marginal products of the inputs, which is fixed. B. equals the marginal rate of technical substitution, which is fixed. C. equals the ratio of input prices, and these prices are fixed.C) It is positively related to the elasticity of supply. D) It is the reciprocal of the elasticity of supply. 14. Suppose the demand for a drug is completely inelastic while the supply is elastic. The burden of a per unit tax on the drug will A) be shared by the buyers and sellers. B) fall entirely on the sellers. C) fall entirely on the buyers D) fall on neither the buyers nor the sellers. 15. Suppose that an individual allocates his or her entire budget between two goods, food and clothing. Can both goods be inferior? Explain. Both goods A. can be inferior because more is not necessarily preferred to less. B. can be inferior if they are substitute goods. C. can be inferior because an increase in income does not have to be spent on either good. D. cannot be inferior because an increase in income must be spent on one of the two goods. E. cannot be inferior if they are complementary goods. 16. A Giffen good A. has a downward sloping demand curve. B. has an upward sloping demand curve. C. will experience an increase in demand as consumer's income increases. D. will never be purchased. 17. When the price of good X increases and all goods (including X) are normal goods, the income effect leads consumers to buy A. more of good X and less of other goods. B. less of all goods. C. more of all goods. D. less of good X and more of other goods. 18. A monopolist maximizes profits at a quantity where A. Total Revenue equals Total Cost B. Marginal Revenue equals Marginal Cost C. Price equals Marginal Cost D. Price equals Average Cost 19. Isocost lines are straight because the slope of such lines A. equals the ratio of the marginal products of the inputs, which is fixed. B. equals the marginal rate of technical substitution, which is fixed. C. equals the ratio of input prices, and these prices are fixed.