Big drops in prices for crops make it tough down on the farm Corn, soybean, and wheat prices have fallen roughly 50 percent from the historic highs of earlier this year. With better-than-expected crop yields, world grain production will rise nearly 5 percent this year. Grain prices have also become more closely tied to oil prices because of the growing corn-based ethanol industry. ... 8- 7- Source: USA Today, October 23, 2008 6- 5- Price and cost (dollars per bushel) MC ATC Grain prices fell in 2008 because A. the demand for grain decreased B. the supply of grain increased The graph shows the marginal cost, average total cost, and marginal revenue curves for a farmer. Draw a point to show the quantity produced when the price is $4 a bushel. Label it 1. Suppose the price falls to $2 a bushel. Draw the new marginal revenue curve. Label it MR₁. Draw a point to show the quantity produced when the price is $2 a bushel. Label it 2. Draw a shape that represents either the economic profit or economic loss when the price is $2 a bushel. Label it. 4- MRO 3- 2- 1. 0 10 20 30 40 50 60 70 Quantity of grain (thousands of bushels per year) 80 >>> Draw only the objects specified in the question.

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IBM sold its personal computer (PC) and laptop business to Leonova (a Chinese company). HP and Compaq merged into one company. Dell is having trouble keeping its sales volume growing. These are indications that the supply of PCs produced by US companies should eventually ______________.   >>>Is it decrease? Due to more Chinese computers?

Milk is flowing like never before in the U.S., where dairies have expanded output enough to send wholesale prices plunging from an all-time high in September. Production in the 12 months through October reached 17.08 billion pounds a month on average, up 1.8 percent from the same period a year earlier, as farmers took advantage of high milk prices and low livestock-feed costs, government data show. Two years of record corn harvests in the U.S. sent grain prices to a five-year low. Grains are mainly used as feed for cow farmers.  Imports of milk to the US has also increased during the period as countries such as New Zealand are also benefiting from good market conditions During this time however, demand for the good has not been able to keep up with the supply. Notably, the current market conditions are not expected to last with impending drought conditions that would impact the harvest of corn and result in an increase in its price. With higher prices for grains some farmers may no…