homework 1 agec 314 07a

homework 1 agec 314 07a - Homework 1 Assignment: Read...

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Homework 1 Assignment: Read chapters 1, 2, and 3 from your textbook and answer the following questions. Please be prepared to turn this in at the start of class on Monday, February 5 , 2007. 1. Why would American soybean processors care about the weather in South America? Is this distinction micro, macro, or a combination of micro and macro? 2. Which marketing function best relates to a broker trading grain futures on the Chicago Board of Trade? 3. If you were a dairy farmer, would you like the dairy processors to advertise milk and milk products such as cheese and ice cream? Justify your answer and be specific. 4. Can you identify a case where falling consumption was evident for a food product? What caused this? 5. Suppose that through some cultural revolution one-half of all Americans became vegetarians and would no longer eat any kind of meat. Assume that beef producers compete in perfect competition and use supply and demand curves to explain the impact of this change in meat consumption. 6. Which of the following are standardized commodities and which are
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homework 1 agec 314 07a - Homework 1 Assignment: Read...

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