A key ingredient of hazelnut butter (one brand that makes this is Nutella) is hazelnuts which are grown in many regions around the world. Hazelnut butter production uses about a quarter of the world crop. Two things have occurred recently, a trade policy banned the importation of most hazelnut crop into the US where most of the processing is done. At the same time, taste for hazelnuts is down due to perceived health hazard from consuming hazelnut butter during this period. Required:
How do these occurrences affect the equilibrium price and quantity of hazelnut butter?

Suppose an economy has only two sectors: goods and services. each year, goods sells 80% of its outputs to services and keeps the rest, while services sells 62% of its output to goods and retains the rest. find equilibrium prices for the annual outputs of the goods and services sectors that make each sector's income match its expenditures.

Andy owns islander surfboard inc. in the past, andy has always given his employees bonuses during the holidays if they reached certain sales goals. this year, even though the company is thriving, he decided to cut bonuses from employees and award them to himself instead. what ethical theory of leadership is andy following?

Martha is one producer in the perfectly competitive jelly industry. last year, martha and all of her competitors found themselves earning economic profits. if there is free entry and exit, what do you expect to happen to the number of suppliers in the industry and the price of jelly? the number of suppliers will increase, and the price of jelly will fall. the number of suppliers will decrease, and the price of jelly will increase. the number of suppliers will increase, and the price of jelly will increase. the number of suppliers will decrease, and the price of jelly will fall.