Consider the market for turkeys. In the United States, because of Thanksgiving in the month of November,
A) there is a downward movement along the demand curve for turkeys.
B) there is an upward movement along the supply curve for turkeys.
C) the supply curve of turkeys shifts leftward.
D) the demand curve for turkeys shifts leftward.
E) neither the demand curve nor the supply curve shift; instead there is a movement along both curves.
B
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An ethanol producer purchases 10 futures contract of corn for delivery in December for a price of $4/bushel.What is the total gain or total loss to the ethanol producer if the price then increases to $5/bushel?
A. Total gain of $250,000. B. Total loss of $50,000. C. Total gain of $50,000. D. Total loss of $200,000.
The ways to address agency costs include
a. gathering information about the agent's characteristics before hiring b. gathering information about the agent's actions once hired c. incentivizing agents to work on behalf of principals d. all of the above