Does U.S. Steel prefer to own coal mines? Give reason for your answer
U.S. Steel is integrated into iron mining, it currently does not own any of the mines that supply its coking coal. Unlike iron ore, the company's coking requirements are a tiny percentage of the coal industry's output, and coal is easily transportable by rail. No coal producer can profit by acting opportunistically toward U.S. Steel because so many other mines produce coal that it can use. The company has delivery contracts with several mines, but if necessary it can enter the spot market to obtain or dispose of coal. Futures and options markets are available for coal, and the company can manage its risks with them as it cannot in the much thinner market for iron ore. Coal is a less specific resource than iron ore; it trades at competitive prices, and U.S. Steel can hedge any remaining risks without having to own mines.
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An individual’s supply curve is backward bending when wages rise above a certain point.
Answer the following statement true (T) or false (F)
Which of the following would cause an upward movement along the supply curve of hamburgers?
a. A fall in the price of substitutes like pizzas b. A fall in market demand for hamburgers c. An increase in the price of beef d. An increase in the market price of hamburgers
Bank A has $75,000 in total reserves, and zero excess reserves. The required reserve ratio is 12 percent. Bank A has checkable deposits of
A) $84,000. B) $62,500. C) $625,000. D) $6,250,000. E) $840,000
The following table provides information about production at the XYZ-TV Company.Number of WorkersTVs ProducedMarginal ProductValue of Marginal Product00------13535$35,00026833$33,00039931$31,000412829$29,000515527$27,000 How many workers will XYZ-TV Company hire if the going wage for TV production workers is $60,000?
A. 4 B. More than 5 C. 0 D. 5