My opinion about topic, group and presentation

My opinion about topic :

This subject very interesting and useful for me. I have been wanting to study this field for a long time but due to I was busy at university and so on, I could not. When I saw this subject on the table, I was surprised and chose to read and make report for it. Such studies, which paly an important role in my life, are very important for me. in addition to studying, also occasionally work in business like buying and selling flowers online. So this study help me to understand my work as much as possible.

My opinion about group :

I think I had a very good group( Ahsan, Abdelhamid and me). As the members of group followed all the necessary rules, there was no annoyance. The most important rule is respect to each other is that we all followed. The team did things on time and we all helped each other to give a very good presentation. My opinion about presentation : The only problem we had was how we going to present online. Since this was the fist time so strange to us. Since the teacher activated all necessary voting options for us on the blackboard, all our worries were resolved and we tried our best to present the presentation.

Requirement : Correct this text

The lamp industry is perfectly competitive. The price of a lamp is $50. A representative firm’s cost function is TC=1000+20Q+5Q².

h. What output for the representative firm will minimize ATC? (hint: use solver or find by solving MC=ATC, or if you are calculus whiz find ATC’=0)
i. Is the lamp industry in equilibrium? Why or why not?
j. Suppose total industry demand at P=$50 is 3000. How many firms are operating in the industry?
k. What would you expect to happen to future firm population in the lamp industry?
l. What would you expect to happen to future price in the lamp industry?
m. What industry price will result in LR industry equilibrium?

Predict the impact of each scenario described below on the labor market. Assume the labor market is originally in equilibrium, and then each scenario happens independently. (In other words, only a) happens; then only b) happens. Do not put them all on one graph or accumulate their effects.) Draw the labor market graph originally in equilibrium. Either denote movement(s) along or shift(s) in appropriate curves. Note whether employment and wages will increase or decrease.

c.   The firm is a monopsony. The state passes a competency test on potential employees.

1.Which of these statements describes an economy’s stock of human capital?

A.Number of hours worked per year.

B.Number of engineering degrees held by workers

C.Value of the production per type of worker.

2.Which factors would increase the aggregate production function?

A.Aging airport facilities that cause flight delays.

B.Restrictions on immigration.

C.A robot that fills up prescriptions faster and more accurately than pharmacists.

3.Which of the following would NOT directly result in capital deepening?

A.Increase in quality of physical capital.

B.Increase in quantity of physical capital.

C.Increase in amount of labor available to businesses start ups.

Assume that the economy is initially at the natural level of output. A permanent increase in taxes will cause which of the following?

Question 7 options:

Which of the following events will cause a reduction in the aggregate price level?

Question 4 options:

1) In the past 3 weeks there have been considerable fiscal and monetary policy initiatives. Give an example of one of each of these. Indicate what was done, why it should have an effect on the economy, and some possible problems that may lead to is not having as great an effect as ‘anticipated’.

2) We are seeing massive unemployment numbers in recent weeks. Provide your thoughts on what type of unemployment we’re seeing, and whether you feel the ‘bads’ associated with unemployment will be felt sooner or later based on other factors you’ve seen/heard/ and learned about. Be sure to include those factors and the effects you think they will have on the unemployed in terms of making it better or worse. (again, you’re going to be graded on how well you support your thoughts using theories and information learned in class, not necessarily on whether you are ‘actually correct’)

Suppose the United States could import footwear from Thailand at the price of $20 per pair or from Mexico at $24 per pair. The domestic price of footwear in the United States is $35. Suppose prior to NAFTA, the U.S. imposed a 50% tariff on all footwear entering the country. Suppose the US demand for footwear is given by Q = 100 – 2P. Assume US producers face a constant MC = $35. What is the welfare effect of joining the NAFTA for the US if doing so requires eliminating the tariff on Mexican made footwear?

What is the welfare effect in terms of areas on the supply and demand graph; that show consumer surplus, government revenue AND loss to producers Graphically, what is the welfare effect for the U.S.?

16.) What is the long-run effect on potential output (Y_f) of a temporary favorable supply shock (A↑)? Up, Down, or Same?

What is the long-run effect on the Price level (P) of a temporary favorable supply shock (A↑)? Up, Down, or Same?

The marginal propensity to consumer is the fraction of one’s overall income spent on consumption. True or False?

An exogenous (or autonomous) increase in some type of spending (e.g., a rise in government purchases) will, in the short-run, cause a larger rise in GDP due to the multiplier effect (e.g., rounds of “respending” that result from the original increase). True or False?

Determine the discounted payback period of a new manufacturing process that costs $15,000,000 with an annual savings of $3,800,000 going up by 3% per year at a MARR of 10%

Please show all work and steps. Any help will be appreciated and thank you for your time!

Economic growth

a.         According to the Solow model of economic growth, what determines the growth rate of real income per person in the very long run (steady state)?  Explain.

b.         What public policies have been proposed to increase the rate of economic growth?  Explain.

Discuss the structure, conduct and performance of the pharmaceutical industry. How does its structure, conduct and performance impact patients? Given the structure, conduct and performance of the pharmaceutical industry, predict the responsiveness of the industry to a common disease as compared to a very rare disease. Assume both diseases have very similar impacts on patients.

Discuss controversies surrounding the development of the government’s role in providing, financing, and regulating health insurance and health services. Include in your discussion the economic reasons for government intervention in a market based health care system. Please be sure to incorporate the reasons identified in your text as well as any additional reasons you wish to provide. Provide a critique of these reasons

1. Economic policy has been described by some commentators as hyper-Keynesianism. On the other hand, others have argued this term is misplaced because the goal of the policy is not to expand aggregate demand but to maintain income.

1. In one paragraph, explain why the term hyper-Keynesianism might be appropriate when describing most countries’ fiscal and monetary policies today. Try to be as specific as possible.

2. In one paragraph, explain how these policies serve as an income maintenance program.

3. Think about your own economic situation. Without providing personal details you do not wish to share, write a paragraph explaining how you think the present Covid-19 economic crisis is affecting your economic future. Do you think government policies are helping you or hurting you? Write no more than one paragraph.

A perfectly competitive TV production firm in Lost Angeles faces the above short-run cost schedule.
The price per unit of output is £16.

a) How much (supernormal) profit is made at this output?
b) What would happen to the price in the long run if this firm were typical of others in the industry?   
c) What would happen to costs and revenues if the Canadian government intervened in this market to encourage firms to move production to Vancouver, Canada?  
d) While television production is up, the US television station industry is collapsing thanks to the internet and Netflix. To what extend should government intervene in the markets prone to market failure?