0
The price of peanut butter rises due to a blight on the peanut crop. peanut butter and jelly are complements. What happens to the equilibrium quantity and price of jelly?
Wiki User
∙ 14y ago
(A)Equilibrium price falls, equilibrium quantity increases
(B)
Equilibrium price rises, equilibrium quantity falls
(C)
Equilibrium price falls, equilibrium quantity falls
(D)
Equilibrium price rises, equilibrium quantity rises
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
What is one example of a monoculture?
Irish Potato Famine. The Irish focused only on one type of potato, so when blight hit, all their resources were gone and the people died or immigrated to other countries including America.
What is a word for areas of the northeastern and midwestern US where heavy industries used to be dominant but where the economy has since declined?
The slang term is "Rust Belt" which refers to the heavy manufacturing industries that waned in the face of modernization costs and international competition. The areas suffered considerable economic decline, increases in unemployment, urban blight, and some decrease in population. Affected urban areas included those in Michigan, Ohio, Indiana, Pennsylvania, and New York.
What is the primary cause of the dual problems of urban blight and suburban sprawl?
Opportunity cost is the cost in terms of the best alternative forgone. Holding valuable land out of use until the owner deems it most profitable creates huge problems for cities, public infrastructure cost, community vitality and environmental health. It is a primary cause of the dual problems of urban blight and suburban sprawl. For the landowner, the opportunity cost of using land today is the higher price or profit that could be gained in the future and since land tends to increase in value as population and production increase, there is a built-in incentive to wait. Yet, for society at large, the opportunity cost of valuable land being withheld from use is both the production and employment that doesn't happen on that site, and the cost of providing services and infrastructure to a less-suitable site, farther from where the action is. Another way to think about the notion of opportunity costs is to remember that human desires are unlimited, and people seek to satisfy their desires with the least exertion. Thus, we all must make choices about how we wish to use our labour, and the products of our labour, to get what we want.
What are the negative economic impact of tourism?
* Certain tourists don't respect the local life style and traditions. * Jobs involved in the industry of tourism are seasonal and not well paid, this can be very dangerous for countries that become dependant on tourism as their main source of revenue. * Seasonal jobs such as these could then possibly lead to high rates of unemplyment. * Country can generaly become dependant on the tourism industry B) the negative impacts of tourism can leads * inflation * leakage * infrastructure and incidental cost * economic dependence Inflation can rise in general level of prices or a fall in the purchasing power of money. Therefore, tourism can increase the value or price of land, building etc. Leakage, the high proportion of the money spent by tourists that leaves the country. Thus, leakage can cause in 3 different ways such as: 1. tourist purchase of goods and services that have been imported. 2. hotels and other tourism related businesses and organization import goods/foods as the local product are not available or not up to the required standards 3, profits are repatriated by foreign owners of hotels and other services. Economic dependence. Counties who rely heavily on tourism industry can be dangerous, this can lead the tourism to changes overnight because of the natural disaster, terrorism, changing consumer taste and economic recession in the source of the country.
How GDP is calculated?
What is not included in GDP. The purpose of this article is to show that although GDP as a measuring devise is quite good. It still has many flaws and therefore these flaws must be taken into consideration when discussing GDP. GDP is calculated by combining value added by all businesses, including manufacturing, mining and services. The total of all of the economic activity in one country, even if the assets are owned abroad. For example the value of the goods less the costs. GDP is usually outputted in an index form. There are many things which are not included in GDP. 1 Gifts, I am sure most of you will have sent money abroad at some time. 2 Transfer payments, and this includes pensions. 3 Domestic activities and unpaid activities, there are billions of voluntary hours worked in almost every country around the world 3 Second hand transactions and barter transactions. 4 Intermediate Transactions, lets track a piece of wood. Its chopped down , then sold to someone who chops it into planks, its then sold to someone else to make a table, the table is then sold to a retailer who then sells it to you, in this case the figure used for GDP is the end price v start price. 5 Leisure, for example if your job becomes easier because of an improvement and therefore you get more leisure time. 6 Environmental costs, although these are measured elsewhere. 7 Changes in quality, lets be honest, you can buy a much better electronic product today for the same amount of (inflation adjusted) money compared with 20 years ago. 8 Non profit making and inefficient activities. 9 Resource depletion, some countries this is very important. Much of the data used in GDP is collected by sending out surveys to different companies. They will send out surveys to a select bunch of retailers and manufacturers to ask for details of their output or sales on a monthly basis. Then comes the estimate of the whole. The governments can obviously use this to their advantage by selecting the companies that they know are steady companies and not choose the smaller companies who are more likely to be erratic. Therefore most smaller companies will never get asked to perform a survey for the government as this may upset the figures. Unrecorded transactions are perhaps the biggest blight on the reliability of GDP. It is currently estimated that in Italy unrecorded transactions amount to one third of GDP, USA 10-20%, UK 8-10% and Japan 3%. Although this can be not be proved as by their very nature are a secret. Italy and the USA do adjust their GDP to account for this but this is obviously a guess.
What is the antonym for oasis?
blight blight blight
Give you a cause and effect sentence for blight?
Blight means a plant disease. The plants became effected with blight. We treated the crops for blight.
Who would win in a fight blight or inque?
blight.
How do you use to word blight in the sentences?
The blight on the crops devastated the village.His house is a blight against the landscape.
When did Blight - band - end?
Blight - band - ended in 1982.
When was Blight - band - created?
Blight - band - was created in 1982.
When was John Blight born?
John Blight was born in 1913.
When did John Blight die?
John Blight died in 1995.
When was Vicki Blight born?
Vicki Blight was born in 1981.
Common name of Phytophthora infestans?
Potato Blight, Potato Late Blight Agent, Potato Late Blight Fungus
What organism caused the Irish patato blight?
Phytophthora infestans(known as late blight) caused the Irish potato blight.
What actors and actresses appeared in Blight - 2003?
The cast of Blight - 2003 includes: Richard Coyle as Blight Mary Woodvine as Evelina
