Suppose five years from now that the ranching industry is in long-run equilibrium at 70 cents per pound. Then, suppose a new hormone shot is developed at Texas A&M University that allows all ranchers to cut their feed costs by 27 percent if they use this shot. Graphically illustrate the short-run implications of this development in the ranching industry using a new set of side-by-side industry and firm graphs.

Jorge is attending college next year. he just got information on the college costs and the financial aid package the college is offering. jorge knows his parents can contribute $4,500 each year. jorge’s college costs & financial aid package per year costs financial aid package tuition & fees grants & scholarship $26,000 $18,500 room & board work-study $12,500 $8,500 how much will jorge need to pay each year from his own savings and from loans? $3,000 $7,000 $7,500 $11,500