How many bushels of corn, if any, will the United States export or import at the prices below

Refer to the table below:

Domestic Market supply of and Demand for Corn
Total Quantity Supplied per Week	Price per Bushel	Total Quantity Demanded per week	Surplus (+) or Shortage (-)
12,000	$5	2,000	+10,000
10,000	4	4,000	+6,000
7,000	3	7,000	0
4,000	2	11,000	-7,000
1,000	1	16,000	-15,000

a. How many bushels of corn, if any, will the United States export or import at the prices below?

b. Use this information to construct the U.S. export supply curve and import demand curve for corn.

c. Suppose that the only other corn-producing nation is France, where the domestic price is $4. Which country will export corn and which country will import it?

Refer to the table below: $5 Domestic Market Supply of and Demand for Corn Total Quantity Total Quantity Surplus (+) or Suppl

At $3, it will (Click to select) O bushels. At $4, it will (Click to select) O bushels. At $5, it will (Click to select) bush

b. Use this information to construct the U.S. export supply curve and import demand curve for corn. Instructions: Use the too

e c. Suppose that the only other corn-producing nation is France, where the domestic price is $4. Which country will export c

Expert Solution

Rahul Sunny answered 3 years ago

Corn yield. The mean yield of corn in the United States is about 135 bushels per...

Corn yield. The mean yield of corn in the United States is about 135 bushels per acre. A survey of 50 farmers this year gives a sample mean yield of x ̅= 138.4 bushels per acre. We want to know whether this is good evidence that the national mean this year is not 135 bushels per acre. Assume that the farmers surveyed are an SRS from the population of all commercial corn growers and that the standard deviation of the...

Taking the index of export prices, import prices, volume of exports, and productivity in the export...

Taking the index of export prices, import prices, volume of exports, and productivity in the export sector in a developing nation to be equal to 100 in 1980, in 2010 what would be: i. The commodity terms of trade of this nation if the index of its export prices rises by 10 percent but the index of its import prices rises by 20 percent. ii. This nation’s income terms of trade if the index of export volume grows to 130...

Explain how nations like the United States, which regularly import much more than they export from...

Explain how nations like the United States, which regularly import much more than they export from other nations, and how other nations like China and Japan, which regularly export much more than they import, keep their international accounts “in balance.” Please discuss the various levels at which accounts are tracked. Also, how would you expect the current trends, whereby the US is importing much less petroleum and actually may soon start to export large quantities of petroleum, and where China...

What determine import and export prices? explain in details

The table below shows the bushels of corn and bottles of wine that China and U.S....

The table below shows the bushels of corn and bottles of wine that China and U.S. can produce from one day of labor under three different hypothetical situations. Product Case 1 Case 2 Case 3 China U.S. China U.S. China U.S. Corn(bushels) 4 2 4 1 4 1 Wine(bottles) 2 1 3 2 2 2 Use the table above to show for each case the commodity in which each country has a comparative advantage or disadvantage. Show your work. Answer...

3. Options contracts for corn are listed below. A single option contract is for 5,000 bushels,...

3. Options contracts for corn are listed below. A single option contract is for 5,000 bushels, but prices are quoted per bushel. For example, if someone wanted to purchase a December 2018 put option with a strike price of $3.60, then the premium would be $400 (= $0.08 x 5,000 bushels). The maturity dates are the same as the futures contracts. Expiration Strike Call Put DEC 2018 $3.60 $0.41 $0.08 DEC 2018 $3.70 $0.35 $0.12 DEC 2018 $3.80 $0.30 $0.17...

how many banks does the United States have compared to other countries? That is, many more...

how many banks does the United States have compared to other countries? That is, many more or far fewer? Briefly, what factors explain the great disparity?

Discuss how countries end up with their import/ export structure and how they detected their comparative...

Discuss how countries end up with their import/ export structure and how they detected their comparative advantage; mention how Brazil's terms of trade changed over time.

Suppose the United States decides to reduce export subsidies on U.S. agricultural products, but it does...

Suppose the United States decides to reduce export subsidies on U.S. agricultural products, but it does not decrease taxes or increase any other government spending. Initially, a reduction in export subsidies decreases net exports at any given real exchange rate, causing the demand for dollars in the foreign exchange market to decrease. This leads to a decrease in the real exchange rate, which, in turn, decreases imports to negate any decrease in exports, leaving the equilibrium quantity of net exports...

The United States has put a ban on the export of oil since four decades ago,...

The United States has put a ban on the export of oil since four decades ago, which means that US oil producers are not allowed to sell their products in the international market. a) Using a supply and demand diagram, show the effect of the ban on the export of oil, on consumers, producers, and total surplus in the domestic market for the US oil. [Suggestion: Use a table for your welfare analysis to make the comparison easier]. b) Is...

Question