Describe how neoclassical and institutional economists approach the study of consumption. How do these approaches differ? What do you think are the advantages of each approach?
Economists inevitably approach their studies with certain assumptions about, among other things, human nature. What kinds of assumptions about who we (humans) are and what we fundamentally desire have you seen so far in this course? Do you agree with these assumptions or disagree, and why?

4. A firm has the following production function:y = L 1/3 K 1/2 .
2
(a) Does this production function exhibit increasing, decreasing, or
constant returns to scale? Prove.
(b) Suppose in the short run, capital is fixed at K = 100. Assuming
that the output and factor prices are p, w, and r respectively, find
firm’s factor demand for labor. What will the effects be when w,
r, and p increase? Explain your results intuitively.
(c) Now, suppose the government decides to impose a payroll tax of
$t per worker employed. What will the effect be on L ∗ ? Why?
(d) Alternatively, if the government decides to impose a lum-sum tax
of $T, what will the effect be on L ∗ ? Why?

Question No (3) ((minimum 1200 word)

As we all know that today's data on unemployment becomes more comprehensive. Today, the hot issue in this regard is unemployment and inactivity among youth. Recent evidence suggests that the unemployment rate among this group is relatively high compare to the adult population across all countries. What are the main factors behind that? Why do youths decide to be inactive?

Please help me, i'd really appreciate it!

1. Graph MC, AVC, and ATC for a firm with the costs indicated by the table to the right. Assuming Perfect Competition, what will happen in the short run if price is $12? What will happen in the long run?
2. What will happen in the short run if price is $25? What will happen in the long run? What is the Long Run equilibrium price?
3. indicated by the table to the right. Assuming Perfect Competition, what will happen in the short run if price is $12? What will happen in the long run?
4. What will happen in the short run if price is $25? What will happen in the long run? What is the Long Run equilibrium price?

Suppose in the short run a perfectly competitive firm has the total cost function: TC(Q)=675 + 3q2 where q is the firm's quantity of output. If the market price is P=240, how much profit will this firm earn if it maximizes its profit?

b) how much profit will this firm make?

c) Given your answer to b), what will happen to the market price as we move from the short run

to the long run?

d) What is the break-even price for this market?

Before you can become a licensed real estate broker, you have to serve a period of time to get

experience as well as meet other requirements. What are these requirements and why are they

necessary.

How can the government promote economic growth, healthy living, and environmental protection?

Is fair trade pressure scalable? why or why not? what would be a scalable alternative.

Why was the concept of art used as an intro to our review of creativity? How does this tie into the idea that complex problem requiring creative solution?

Do the Math 6-3
A Recent Graduate’s Debt Status

Chelsea Menken, of Providence, Rhode Island, recently graduated with a degree in food science and now works for a major consumer foods company earning $70,000 per year with about $57,600 in take-home pay. She rents an apartment for $1,100 per month. While in school, she accumulated about $38,000 in student loan debt on which she pays $385 per month. During her last fall semester in school, she had an internship in a city about 100 miles from her campus. She used her credit card for her extra expenses and has a current debt on the account of $7,000. She has been making the minimum payments on the account of about $240 a month. She has assets of $14,000.

1. Calculate Chelsea’s debt payments-to-disposable income ratio. Round your answer to two decimal places.

     %

2. Calculate Chelsea’s debt-to-income ratio. Round your answer to two decimal places.

     %

Turkey January 24, please provide information about economic developments in these decisions after what are the basic principles of decisions taken in 1980?

Consider the production information below:

A. Complete the following table:

B. If this firm would have to pay $500 a week, how many workers would the firm hire? Explain how you come up with your answer.

C. If the demand for the products increase such that product price rises to $15 per unit, would the firm hire more/less workers? Explain how you come up with your answer.

1. Suppose Kifwong is a small economy with only five people and two income tax rates. The first $4,000 earned each month are taxed 30%. Anything earned over $4,000 each month is taxed 45%. Anyone who is not working receives unemployment benefits of $2,500, paid for by the government. The table below shows the income for the five people at two different time periods. (5 pts.)

1. Calculate the total tax revenue during the first period

2. Calculate the total tax revenue when the economy during the second period

3. Excluding Billy’s income, what is the percent change between total income in the first period and total income in the second period?

4. Briefly explain how the taxes act as an automatic stabilizer as the income increases from the first period to the second perio

5. Briefly explain how the fact that Billy earned a job in the second period acts as an automatic stabilizer.

Spending on social programs like Medicare and Medicaid have increased greatly over time. Provide a brief description of how you would evaluate spending on these programs to determine if they are socially useful.

What will you tell your grandchildren? You have the following facts: CPI in 2016 was 240. CPI in 2060 is 2400. The price of gasoline in 2016 is $2.00 per gallon. The price of gasoline in 2060 is $15 per gallon. How many dollars would you need in 2060 to buy what $2.00 would buy in 2016?

Enter your answer as a number, rounded to two decimal places. Don't enter a dollar sign.