SECOND ESSAY QUESTION (50 points)ANSWER ONE OF THE FOLLOWING TWO QUESTIONS:C. Suppose that production of wheat is a perfectly competitive market / industry. Given the following information currently for the wheat market: Price = $5.50 per bushel ATC = $6.00 per bushel AVC = $5.00 per bushel Where ATC is average total cost and AVC average variable cost. Are these firms making a profit? Should these firms shut-down and sell their farms? What will happen in the long-run to these producers and thus the market / industry in terms of their profits / losses? Explain your answer by reference to specific market rules and to the adjustment process. ORD. Wellstone is a furniture manufacturer for the residential market that creates a variety of furniture pieces for the dining room, living room and bedroom. At a management meeting the president of the company asked about the company’s production goals for the next quarter. The operations manager responded in favor of increasing production and thinks that it would not affect their average costs, or may even lower them. Assuming that labor is the only variable input, is the operations manager’s conclusion about an increase in production right?Explain your answer using the relevant production process metrics (such as ATC, MC, etc.).
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The city of Old York was in the midst of developing a new ur…
The city of Old York was in the midst of developing a new urban economic development plan that would include massive construction projects in its downtown area. The result of this large scale development project would create new businesses, parks, and an outdoor concert venue that would surely revitalize the downtown area and boost the city’s local economy and tax revenue. The city already owned all of the land it planned to redevelop and repurpose as part of this massive urban development project except for a very small commercial building owned by Helo who refuses to sell her land to the city so that it can complete its project. If the city of Old York attempts to exercise its Fifth Amendment condemnation rights to force Helo to sell her property, what would be the expected result?
Briefly explain why attempts by India’s urban authorities to…
Briefly explain why attempts by India’s urban authorities to clear shantytowns have not been very successful.
In the form of an essay, explain the thinking of learned Tex…
In the form of an essay, explain the thinking of learned Texans around the year 1900 with regards to Galveston and Waco and the future of Texas. What did they think? Why did they esteem these two cities? What happened to the cities? And, what became of Texas in the 20th century that proved the learned to be wrong. Please include in your essay insights gleamed from lecture and Article 14, “Railroads, Commerce, and Energy–We’ve got everything you could ever want”. Article 16 might be an aid as well.
An NDC number located on the medication container can tell u…
An NDC number located on the medication container can tell us the following except:
Which of the following protects a buyer of real estate from…
Which of the following protects a buyer of real estate from losses resulting in a defect of title?
[3 points] A 60-kg hiker starts at an elevation of 1000 m an…
[3 points] A 60-kg hiker starts at an elevation of 1000 m and hikes up the mountain until she has increased her gravitational potential energy by 700,000 J. At what elevation (in meters) does she stop her hike?
You are assisting the RN plan care for your new patient, a 7…
You are assisting the RN plan care for your new patient, a 75-year old male with diabetes. Regarding development of the patient care plan, select the most likely option by selecting from the lists of options provided to complete the statement below. Input from the during the stage of the nursing process results in a greater probability of success.
All of the following are part of the nursing care plan EXCEP…
All of the following are part of the nursing care plan EXCEPT:
[3 points] A baseball pitcher throws a baseball at the hitte…
[3 points] A baseball pitcher throws a baseball at the hitter, who hits it on a horizontal drive straight back to the pitcher at 42 m/s. If the hitter, via the bat, exerts an average force of 2000 N on the ball over a time period of 6 ms, what is the magnitude of the change in momentum of the ball in kg·m/s?