Why Did Global Food Prices Rise? 1. Farmers in the United States and in Europe benefit from government policies to promote the production of ethanol because they receive government subsidies to produce crops that can be turned into biofuels and it gives the farmers an incentive to plant crops such as corn and soybeans. However‚ this policy harms foreign producers of these foreign crops. Since U.S. and European farmers have subsidies‚ they have lower costs than the foreign farmers and the foreign
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or seller will a. have a negligible impact on the market price. b. have little effect on market equilibrium quantity but will affect market equilibrium price. c. affect marginal revenue and average revenue but not price. d. adversely affect the profitability of more than one firm in the market. Table 14-1 Quantity Total Revenue 0 $0 1 $7 2 $14 3 $21 4 $28 2. Refer to Table 14-1. For a firm operating in a competitive market‚ the price is a. $0. b. $7. c. $14. d. $21. 3. Suppose that a firm
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“PUTTING A PRICE TAG ON LIFE” In this video‚ some real life examples of Utilitarian principles and morality are presented. Generally‚ utilitarianism is an area of philosophy relating to the principles of justice‚ fairness‚ ethics and one of the studies helping to answer to the question “what is the right thing to do?” Jeremy Bentham is an early advocate of utilitarian philosophy‚ in which‚ the highest principle of morality is to maximize the general welfare and mass happiness. In other words
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CHAPTER 13 Investment Centers and Transfer Pricing ANSWERS TO REVIEW QUESTIONS 13-1 Goal congruence means a meshing of objectives‚ in which the managers throughout an organization strive to achieve goals that are consistent with the goals set by top management. Goal congruence is important for organizational success because managers often are unaware of the effects of their decisions on the organization’s other subunits. Also‚ it is natural for people to be more concerned with the performance
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THE ETHICS OF PRICE GOUGING Matt Zwolinski Abstract: Price gouging occurs when‚ in the wake of an emergency‚ sellers of a certain necessary goods sharply raise their prices beyond the level needed to cover increased costs. Most people think that price gouging is immoral‚ and most states have laws rendering the practice a civil or criminal offense. The purpose of this paper is to explore some of the philosophic issues surrounding price gouging‚ and to argue that the common moral condemnation
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Between 1911 and 1915‚ Haiti was politically unstable due to a series of political assassinations and forced exiles resulted in six presidents holding office during this period. Revolutionary armies carried out the coup d’état regularly. Some experts suggested that these armies were enlisted by rival political factions under the promises of money‚ which would be paid after a successful revolution‚ and the opportunity to plunder. With this kind of instability in the region the United States invaded
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ECO 212 2011 Supply‚ Demand‚ and Price Elasticity Supply and demand are common terms within economics. This also means that each term is dependent on each other. For example if a price goes up‚ the demand comes down and if the demand goes up the price comes down. Equilibrium occurs when both the demand and supply are equal or are in balance with each other. Price elasticity is the “measure of how much one variable responds to change in another economic variable” (Hubbard & O’Brien‚
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shows the price of aluminium over the past six years. It can be seen from Figure 1 that the price of aluminium has fluctuated a great deal during this period. For example: between July 2008 and February 2009 the price fell by 57%; in August 2009 alone the price rose by 16%. In an essay of 1500 words or fewer‚ use economic analysis to explain changes in the price of aluminium over the period shown in Figure 1 and why the price fluctuations have been so great. Figure 1: The monthly LME spot price for aluminium
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Price/Earnings Ratio Model (P/E) The P/E looks at the relationship between the stock price and the company’s earnings. The P/E is the most popular metric of stock analysis. A valuation ratio of a company’s current share price compared to its per-share earnings. For example‚ if a company is currently trading at $60 a share and earnings over the last 12 months were $2 per share‚ the P/E ratio for the stock would be 30 ($60/$2). The earnings multiplier can be computed as follows: P/E Ratio = Current
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Master Thesis Report June 2013 Hybrid (Solar PV-Diesel) Mini Grids in Philippines Prepared for GIZ Germany Prepared By Varun Gaur Masters Student (2011-2013) Post Graduate Program in Renewable Energy (PPRE) University of Oldenburg‚ Germany Email: varungaur.engg@gmail.com Varun Gaur‚ PPRE‚ University of Oldenburg Page 1 Varun Gaur‚ PPRE‚ University of Oldenburg Page 2 Acknowledgement Foremost‚ I would like to express my sincere gratitude to my supervisors Dr
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