Question: Suppose that there is a fall in the cost of shipping goods by railroad. What will happen to the difference between the average quality of

Suppose that there is a fall in the cost of shipping goods by railroad. What will happen to the difference between the average quality of oranges sold in Florida and the average quality of oranges sold in New York?

Step by Step Solution

★★★★★

3.37 Rating (175 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

From the difference between the average quality of oranges ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

231-B-E-P-T (28).docx

120 KBs Word File

Students Have Also Explored These Related Economics Questions!

Suppose there is a fall in the demand for shoes, which are provided by a competitive constant-cost industry. a. Does the price of shoes change by more in the short run or in the long run? b. Does the...

Suppose that there is a lottery where you select 3 different numbers between 0 and 9. A digit cannot be selected twice so you can select 123 but not 112. a. How many different three digit numbers are...

Railroad cars are loosely coupled so that there is a noticeable time delay from the time the first car is moved until the last cars are moved from rest by the locomotive. Discuss the advisability of...

Context: The Panic of 1857, the New York Clearing House, and the Concept of Insolvency (A) On the afternoon of October 13, 1857, John Livingston entered the Bank of New York seeking to convert two...

1. "Water is so precious for life, and without it everything dies. Therefore, we must treat it with care and look after it. Unfortunately, we abuse water. We waste it watering our lawns, flushing out...

HI PLEASE ANSWER ALL 1. Assume the market for apples is initially in equilibrium. Which of the following will result in a higher equilibrium price of apples? a. An increase in both the demand for and...

1 Assuming that Pepsi-Cola and Coca-Cola are substitutes, a decrease in the price of Pepsi-Cola and an increase in government regulations will cause what to happen to price and quantity in the...

ITS ECON . In the aftermath of the financial crisis of 2007 and 2008, many US policymakers have suggested that banks and other financial intermediaries should be subjected to tighter regulations. a....

(1) The Quality of Financial Information Referencing this week?s readings and lecture, describe the quality issues related to reporting revenue. What is the importance of understanding various...

COURSE TITLE: ENTREPRENEURSHIP 1: convert your business idea to a business plan, similar to the business plan content and business plan example described below. Fill in all the headings in the...

Define returns to scale. Why is this considered a long-run phenomenon?

The partners decide to prepares a cash priority program showing how cash would be distributed to the partners as assets are realized. The loss absorption capacity of A, B and C, respectively a....

11. The EFQM Excellence model enables an organization to carry out periodic self assessments and review its business processes and results. Show how you would use the model and methodology in; (a)...

A company is considered as a government company, if it is holds % of paid-up share capital. (i) More than 30 (iii) More than 50 (ii) More than 40 (iv) None of these

a. As we noted, Assar Lindbeck once said that short of aerial bombardment, rent control is the best way to destroy a city. What do you think Lindbeck might mean by this? b. How does paying key money...

In the town of Freedonia, the government declares that all street parking must be free: There can be no parking meters. In an almost identical town of Meterville, parking costs $5 per hour (or $1.25...

If a government decided to impose price controls on gasoline, what could it do to avoid the time wasted waiting in lines? There is surely more than one solution to this problem.

show work please Show HOW YOU Calcuni wc Hum JUU WUJ computations, you will not receive a full score (and will miss the opportunity of partial credits). Note that the points from the bonus question...

The DuPont equation shows the relationships among asset management, debt management, and profitability ratios. Management can use the DuPont equation to analyze ways of improving the firm's...

What is the present value of $3,100 per year, at a discount rate of 9 percent, if the first payment is received 5 years from now and the last payment is received 15 years from now? (Do not round...