--%>
Assignment Help - homework help

Equilibrium price of grape jelly problem

Peanut butter, jelly sandwiches and tuna fish sandwiches are replacements. Assume an international agreement decreased the worldwide catch of tuna by half. The equilibrium price of grape jelly would be: (1) Increases while the equilibrium quantity is reduced. (2) Drop/fall while the equilibrium quantity rose. (3) Drop/fall and thus would the equilibrium quantity. (4) Increase, and thus would the equilibrium quantity.

Give the right answer of the above question.

   Related Questions in International Economics

  • Q : Technological advances and resource

    I have a problem in economics on Economic Growth. Please help me in the following question. Technological progress and resource reduction tend to join and hence a society’s curve of production possibilities experiences: (1) Expanded capacity. (2

    		•
  • Q : Manegment . In 2007 and 2008 Boeing ran

    . In 2007 and 2008 Boeing ran into several publicized issues with regard to its management of a globally dispersed supply chain. What are the causes of these problems? What can a company such as Boeing do to make sure such problems do not occur in the future?

    		•
  • Q : Tourism services to tourist-Balance of

    In which account of balance of payment tourism services to tourist are involved? Answer: Tourism services to tourist are comprised in current account of Balance of

    		•
  • Q : Exchange rates-a question of demand and

    ‘Can foreign exchange markets be analyzed in similar manner as the markets for ordinary physical commodities? Do demand slope downwards and supply slope upwards for currencies?’

    		•
  • Q : What is managed floating exchange rate

    Managed floating exchange rate: This is a system in which the central bank or Government permits the exchange rate to identify market forces although they take decisions to intervene whenever they feel it suitable.

    		•
  • Q : Define balance of payment or BOP

    Balance of payment: It is a systematic record of each and every economic transaction of a country with the rest of world in an accounting year.

    		•
  • Q : What does a deficit in balance of trade

    Deficit in balance of trade point: Deficit in balance of trade points out that the imports of good are bigger than exports.

    		•
  • Q : What is Fixed exchange rate system

    Fixed exchange rate system (or pegged exchange rate system): This is a system in which exchange rate of a currency is fixed by government. This system makes sure stability in the foreign trade and capital movement.

    		•
  • Q : Joining the euro-the effect on the

    ‘How is the equilibrium £:€ exchange rate presently determined? When UK was aiming to adopt the euro in the next to future we would be predicted to ‘shadow’ the euro for a while (the £:€ exchange rate would change merely among v

    		•
  • Q : Financial crisis in United States

    Question 1: The financial crisis that hit the United States first and then the world economy starting in fall 2007 meant that the future prospects of many firms looked gloomy at best for some time. Comment on the e

    		•