All of the goods below are either sold in perfectly competitive markets or in secondary markets that are also competitive. Suppose that the market (or the secondary market) starts in equilibrium. For each of the following scenarios, determine whether there would be upward or downward pressure on the price immediately after the event.

a. The Nile River floods this year add an exceptional amount of silt to the soil, resulting in increased crops of cotton.
b. Sub-zero weather in New York, where the Super Bowl is being played causes people to become disinterested in watching the Super Bowl live. What happens to ticket price in the scalping market?
c. An outbreak of mad cow disease causes Americans to abstain from eating beef.
d. An impending nuclear war causes people to stock up on twonkies, a popular snack cake provided by many companies

8. agreement and disagreement among economists suppose that bob, an economist from a university in arizona, and cho, an economist from a public television program, are arguing over saving incentives. the following dialogue shows an excerpt from their debate: cho: i think it's safe to say that, in general, the savings rate of households in today's economy is much lower than it really needs to be to sustain an improvement in living standards. bob: i think a switch from the income tax to a consumption tax would bring growth in living standards. cho: you really think households would change their saving behavior enough in response to this to make a difference? because i don't. the disagreement between these economists is most likely due to . despite their differences, with which proposition are two economists chosen at random most likely to agree? rent ceilings reduce the quantity and quality of available housing. immigrants receive more in government benefits than they contribute in taxes. having a single income tax rate would improve economic performance.

Eileen's elegant earrings produces pairs of earrings for its mail order catalogue business. each pair is shipped in a separate box. she rents a small room for $150 a week in the downtown business district that serves as her factory. she can hire workers for $275 a week. there are no implicit costs. what is the marginal product of the second worker?

Peyton taylor drew a map with scale 1 cm to 10 miles. on his map, the distance between silver city and golden canyon is 3.75 cm. what is the actual distance between silver city and golden canyon?