Assignment One 1.25.08

Assignment One 1.25.08 - Assignment One. AGEC 505....

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Assignment One. AGEC 505. Agricultural Market Structures. Spring 2008. Due: 11:30 AM, Friday, January 25, 2008. Turn in hard copy before class. Assignments turned in after 11:30 AM will be marked 10 percent off. This late policy will be strictly enforced . Assignments turned in after the deadline will be marked 10 percent off each day that they are late (for example, an assignment due on Friday that is turned in on Monday will be marked 40 percent off). Exceptions will be granted in advance by the instructor. READ: Chapter 2. Hints: (1) work together, (2) read the chapter BEFORE starting the assignment, (3) be sure to include BOTH labels and units on each axis of each graph. 1. (5 pts) Why do we study supply and demand? Explain thoroughly and carefully. 2. (5 pts) Wheat Supply Curve. a. Define the term, “supply curve.” b. What does the supply curve represent? (from lecture) c. How is the supply curve derived? (from lecture) d. What are the variables that affect the supply of wheat (determinants of supply)? e. Carefully describe and explain the difference between the movement along and a shift
Background image of page 1

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

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/29/2008 for the course AGEC 505 taught by Professor Barkley during the Spring '08 term at Kansas State University.

Page1 / 2

Assignment One 1.25.08 - Assignment One. AGEC 505....

This preview shows document pages 1 - 2. Sign up to view the full document.

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