asst4 - AGEC 217 Assignment 4 RWTaylor Due: Friday, 2/2/07...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
AGEC 217 Assignment 4 RWTaylor Due: Friday, 2/2/07 Name __________________________ Seat No. _____________ See pages 195-207 in the Mini Text on our website. Use the procedure on page 207 to do the following problems. Note that the mini text contains diagrams, explanations and examples of each kind of problem listed below. For each of the following market situations show clearly what the effect will be on the market just as is modeled in class and in the mini text. 1. Chicken market: The price of corn, the key feed for chicken, doubles. 2. Indiana farm land market: The price of farm commodities increases substantially. 3. The labor market: The minimum wage is increased to keep pace with inflation. 4. Cotton market: The price supports that have been on cotton are removed.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
5. Auto workers market: The United Auto Workers union won a significant wage increase. 6. Wool market: Sheep production and numbers decline. 7.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/16/2008 for the course AGEC 217 taught by Professor Deboer during the Fall '08 term at Purdue University-West Lafayette.

Page1 / 4

asst4 - AGEC 217 Assignment 4 RWTaylor Due: Friday, 2/2/07...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online