Ask Experts Questions for FREE Help !
Ask
    passenger67's Avatar
    passenger67 Posts: 2, Reputation: 1
    New Member
     
    #1

    Oct 28, 2009, 01:49 AM
    What the most appropriate action that the government should take in this situation?
    Market demand for wheat is relatively stable over time but market supply of wheat is very much influenced by the weather. For example, a natural drought decreases the supply of wheat and pushes up its prices while a bumper crop can severely depress wheat prices. Acts of nature thereby can result in large increases or decreases in the prices of agricultural commodities. The profitability of farmers becomes uncertain, as does the prices of food products and income needed to feed a household

    Keeping in view the scenario (A), suggest the most appropriate action that the government should take in this situation in order to stabilize the wheat farmer’s income and to encourage them to continue farming whether there are bumper crops or droughts.
    passenger67's Avatar
    passenger67 Posts: 2, Reputation: 1
    New Member
     
    #2

    Oct 28, 2009, 01:53 AM
    Analyze whether the demand for coffee is elastic, inelastic orunitary elastic & why?
    There is an awful lot of coffee in Brazil; it supplies a large share of the world market. In 1994, people first began to realize that a frost in Brazil would cause havoc with the 1995 harvest. The economist magazine at that time reported estimates that the 1995 crop would be less than that of 1994. It was obvious that coffee was going to be scarce in 1995. Anticipating this situation, speculators bought coffee in 1994, bidding up its price even before the supply fell. Following table shows the price rise of coffee during these years.



    Years 1993 1994 1995

    Price ($) 0.9 2.0 2.1

    Export Quantity 113 102 85

    Keeping in view the scenario (B), analyze whether the demand for coffee is elastic, inelastic or unitary elastic and why?
    Curlyben's Avatar
    Curlyben Posts: 18,514, Reputation: 1860
    BossMan
     
    #3

    Oct 28, 2009, 02:49 AM
    Thank you for taking the time to copy your homework to AMHD.
    Please refer to this announcement: https://www.askmehelpdesk.com/financ...-b-u-font.html

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

How has the government government legislate morality? [ 4 Answers ]

How has the government government legislate morality?

Only in the Government. [ 1 Answers ]

Subject: Only in the Government 150 years ago, President Lincoln found it necessary to hire a private investigator - Alan Pinkerton for protection. That was the beginning of the Secret Service. Since that time, the federal government has produced a large number of multi-letter agencies such...


View more questions Search