Cali Baby
The capital of California
What is Sacramento
Senator Gavin Newsom reported that the current western drought is the worst the US has experience in this many years.
What is 1200 years
The western drought influences the aggregate supply and demand chart of agricultural products by.
What is decreasing the supply
If "P,Cost" is __ to AVC an firm should shut down
Less than or Equal to AVC
The Central Valley Project’s reservoirs have diminished by this percent compared with last year.
What is 26.5% (within 5%)
This percentage of California is considered to be in a "moderate drought"
What is 100%
One of three major outputs produced by California farmers that has been affected by the lack of water supply.
What is fruits, nuts, and vegetables
A firm breaks even when
What is TR = TC
The California Drought Monitor stated that this drought is actively affecting roughly this many California residents.
What is 37 million Californians
The percentage of California considered to be in an extreme drought
What is 6.7%
What will happen to the cost of water as a result of the Western Drought
What is increase
If a firm produces a quantity at which P > ATC the firm is ___.
What is profitable
The number of part/full time jobs lost in California.
What is 8,750
The drought makes the Western incredible susceptible to this type of natural disaster
What is wildfires
This happens to the cost of production during a drought
What is an increase.
The __ curve shows how marginal revenue varies as output varies
What is the marginal revenue curves
The most common agricultural commodity produced in California. (hint: it is not a plant)
What is diary products/milk
The last driest summer (before 2021) was in this year
When is 1895
The percentage of California used for agriculture
What is 40%
If TR < TC the firm is incurring a __.
What is a loss