Discuss why falling oil prices are bad for US oil production companies. Explain (using economic terms and concepts we covered) when and why these companies should shut down.
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Question 6
Discuss why falling oil prices are bad for US oil production companies. Explain (using economic terms and concepts we covered) when and why these companies should shut down.
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- Discuss why falling oil prices are bad for US oil production companies. Explain (using economic terms and concepts we covered) when and why these companies should shut down.Consider our discussion on technological change. Assume for the moment that 3D printers become as cost effective as injection molding. In the long run, how does this impact firms, the industry, consumers and society? Part a) Consider the change in minimum effective scale (MES) Part b) How would the industry change Part c) How would benefit, who would be hurt?Question: How does the average hourly manufacturing salary in Australia affect cost efficiency? How does the average hourly manufacturing salary in Asia and nearby countries impact Ford’s decisions to halt production? Elaborate and explain. please answer
- QUESTION 18 Note: No referencing is required for short answer questions. The graphs below show the Australian and Korean domestic car industries. (a) Explain the slopes of the long-run supply curves in each industry. (b) If Australia and Korea had a free trade agreement, what is likely to happen to the demand curves and the prices in each industry over time? Price (thousands of dollars per car) 45 30 Australian car industry 15 SLR 2 Quantity (millions of cars per year) D L Price (thousands of dollars per car) 45 30 Korean car industry 5 2 3 Quantity (millions of cars per year) D SLRQuestion: How does the average hourly manufacturing salary in Australia affect cost efficiency? How does the average hourly manufacturing salary in Asia and nearby countries impact Ford’s decisions to halt production? Elaborate and explain. need helpPRICE (Dollars per ton) 80 72 64 56 48 40 32 24 16 8 0 0 Demand 120 240 360 480 600 720 840 960 1080 1200 QUANTITY (Thousands of tons) Supply (20 firms) Supply (40 firms) Supply (60 firms) True False (?) If there were 60 firms in this market, the short-run equilibrium price of steel would be $ per ton. At that price, firms in this industry would Therefore, in the long run, firms would the steel market. Because you know that competitive firms earn economic profit in the long run, you know the long-run equilibrium price must be $ per ton. From the graph, you can see that this means there will be firms operating in the steel industry in long-run equilibrium. True or False: Assuming implicit costs are positive, each of the firms operating in this industry in the long run earns positive accounting profit.
- What would change if you found a new niche market to sell your product and your sales jumped to $200,000 and your input costs went up to $30,000? What is your accounting profit? Economic profit? Should you stay in business? Would other firms enter into the market? please show work!Question 17: The sequence of processes required to produce and distribute a product is know as A Supply chain B Conglomeration C Integration D Process ManagementBig Miners at Odds Over Whether Worst Has Passed - Wall Street Journalby: Rhiannon Hoyle (see images below) 1) How do potential changes in the Chinese economy affect the demand for minerals as well as the decisions made by mining companies? 2) Why is it difficult for mining companies to get the timing right with regard to the development of new mines? 3) “Mining typically follows an about four-year boom-to-bust cycle….” Is there any reason why they cannot use their historical data make their investment decisions and demand forecasts? 4) Mining companies are facing a potential “high price for mineral commodities” state of the economy and a potential “low price” state. Why then are they visiting factories and scrapyards? 5) How do environmental policies affect the demand for coal? Why are mining companies concerned about their ability to predict changes in environmental policies?
- A. Complete the table. A small firm operating in a purely competitive market, has fixed costs of $45 per day, compensate each employee $96 per day, and has daily output and raw material costs as indicated in the table below. b. If the company can sell every product it makes for $125 each, how many units should the company make each day? How many employees will it hire each day? What is the firm's MRP for the last month hired? Will the company make an economic profit producing this quantity of output? Why or why not?How would you approach this issue if you were the manager in charge of sourcing raw materials for LEGO? How would PESTEL analysis inform your actions? What PESTEL challenges is LEGO trying to address by changing the raw materials used in its products? Explain what favorable PESTEL factors support LEGO’s efforts. for the lego projectFresno County, California is the largest agricultural producing county in the country and almonds are an important crop with more than 99,000 acres harvested. Each acre produces about a ton of almonds and sold at a price of $4300 a ton. The Sagardia Brothers grew 600 acres of almonds. What would happen if the Sagardia Brothers priced their almonds at $4000 a ton? They will not sell any almonds. Profits will be higher than when they sell them at the higher price. The quantity sold will be higher. They will sell the same amount of almonds, but profits will be lower.