Micro economics homework Assignment Example | Topics and Well Written Essays - 500 words - 1

Micro economics homework - Assignment Examplees like Iceland, Japan, and Norway may end-up continuously and excessively kill endangered species like the humpback and the fin whales either for scientific research and/or commercial purposes (McCurry ocean Shepherd Conservation Society b, c).The farmers can slowly breed chicken but non whales. During the reproductive memory period, the farmers can just put a cock and hens inside a cage for several days and allow the hens to sit on their eggs while on the nests (Lyons, Collier and Silvy). After a rook span of more than 21 days, the farmers can already expect the eggs to hatch (Loch, de Oliveira and de Silva).Even though the birth of twins is possible, Day revealed that most females willing only give birth to one calf at a time as compared to multiple eggs in the case of the chicken. Furthermore, it usually takes a longer period of time (between 11 to 17 months) before a female whale can give birth (Day). This explains why the farme rs can easily increase the supply of chicken but not the supply of whales.Earlier, it was mentioned that most whales are killed either for scientific research and/or commercial purposes. Considering the differences between the breeding period requirements of chicken and whale, a significant increase in demand for whales would definitely mean an increased risk of endangering the whale species.The Sea Shepherds attempt to cut short of Nisshin Marus whaling season does not always lead to lower revenue on the part of the whaling company not unless there is a strict government intervention with regards to its selling price. To be able to clearly understand this argument, one has to be clear that a whale is not a homogenous product wherein the buyers could easily find an alternative product (Tewari and Singh 165). Since whales are considered as heterogeneous or differentiated products, the whaling company has the advantage to rate the market prices of whale products.Based on a simple mi cro-economic explanation, it is the supply