Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Microeconomics Expert

Suppose that graph on the next page illustrates marginal, average variable and average total cost curves of a typical coffee grower and that wholesale market for coffee beans is perfectly competitive market.

A) As output expands, at what level of output does this grower first start to experience diminishing marginal productivity of labor? describe your answer in 1or 2 sentences.

B) Suppose that current market price at wholesale level is $5 per pound. How much coffee will this typical grower produce? Describe answer in one or two sentences.

C) Is there a price below which grower will not bother to cultivate & harvest his crop, but will just let beans rot on the tree? Describe your answer briefly.

D) Suppose that as industry expands (or contracts) prices of variable inputs it uses do not change. Is $5 per pound long run equilibrium price in this market? If so, describe why. If not, describe why not and recognize the long run equilibrium price.

E) Assume there is shortage of experienced farm labor in coffee growing regions, so that as industry expands the wages paid to farm labor rise. How would this affect conclusion in part (D) about long run equilibrium price of coffee?

Assume that technological innovation in coffee cultivation greatly reduced amount of labor used per ton of beans harvested but required farmers to invest in substantially more large scale capital equipment and computerized hydration management systems.

F) Draw diagram showing effect on typical grower's average total cost curve. (i.e. sketch a "before" and "after" ATC schedule). Determine the effect of this technological change on minimum efficient scale of production?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M923271
  • Price:- $60

Guranteed 36 Hours Delivery, In Price:- $60

Have any Question? 


Related Questions in Microeconomics

Microeconomics assignmentdiscussion forumnote the video has

Microeconomics Assignment DISCUSSION Forum Note: The video has Closed Captioning. To activate it, start the video, mouse over the bottom of the video and click on the CC icon, then select from the menu. This week's discu ...

Assignmentyou have been asked to assist your organizations

Assignment You have been asked to assist your organization's marketing department to better understand how consumers make economic decisions. Write a 1,050-word analysis that includes the following: • The impact the theo ...

Microeconomicswatch this 30 mins youtube link on how the

Microeconomics Watch this 30 mins. YouTube link on 'How The Economic Machine Works' You will enjoy it! https://youtu.be/PHe0bXAIuk0 Write down your understanding of 'How The Economic Machine Works' and make sure to suppo ...

Assignment 1 -i watch the videos on demand and supplythere

Assignment 1 - I) Watch the videos on Demand and Supply There are 5 changes in Demand that shift the demand curve to the right or left.  They are Change in Tastes and Preferences Change in Income Change in Population Cha ...

Assignmentthe paper is to be a properly formatted apa paper

Assignment The paper is to be a properly formatted (APA) paper that I expect will take at least 5 pages to do properly. It is to take the material discussed in the course and apply it to some issue or observation in your ...

Problem -the table below gives the income of each of four

Problem - The Table below gives the income of each of four individuals who are in a region. Calculate and plot the Lorenz curve and calculate the Gini coefficient for this economy. individual income 1 100 2 200 3 300 4 4 ...

Assignmentxyz company enters into a contract with mary to

Assignment XYZ Company enters into a contract with Mary to landscape Ben's yard, using None Nursery to supply trees and buses. Kate owns the lot next to Ben's property. The landscaping is a gift from Mary to Ben, who is ...

Economic choice and economic decision makingconsider your

ECONOMIC CHOICE AND ECONOMIC DECISION MAKING Consider your last vehicle purchase and the decision making process you engaged in while deciding what vehicle to purchase or if a new vehicle was the right decision. While an ...

Need someone to help with the belowthe theory of market

Need someone to help with the below The theory of market economies emphasizes freedom of choice and limited government intervention. The classic argument for government intervention is market failure - the inability of t ...

Assignmentin this assignment you must break a norm this

Assignment In this assignment, you must break a norm. This breach must be done in a public forum. You will be writing an essay about your experiment, in which you must be sure to answer all of the questions listed in thi ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen