1.Jones works for a consulting firm and gets remunerated a
monthly wage of $500.00. He always spends all the $500.00 on buying
5kg of potatoes  only which he buys at $100/kg. One day, amidst of
Covid 19 pandemic, the price of potatoes increased to $120/kg. Due
to the snap change in the price, Jones supervisor approached him
and gave him two options to choose from:
i). Reduce Jones wage to $400.00 and supplying him with 30kg of
potatoes at $80/kg monthly.

ii). Increase his wage to $600.00
As a smart student of Principles of Economics and within a page, kindly
advise Jones to make a justified rational choice.

please help with this Economics

Kelly sells orange juice in a competitive market on a busy street corner in New York. Her production function is ?(?1, ?2) = ?1 1/3 ?2 1/3, where output is measured in gallons, ?1 is number of pounds of oranges she uses, and ?2 is the number of labor-hours spent squeezing them. ?1 = $16 is the cost of a pound of oranges and ?2 = $2 is the wage rate for orange-squeezers.

At the cost minimizing input bundle, how much labor-hours are spent per pound of oranges? That is,

compute the ratio of x2/x1 at the cost minimizing input bundle

b) What is the optimal inputs bundle to produce 8 units of output in the cheapest way?

c) What is the minimized cost of producing 8 units of output?

d) Calculate the average cost when total cost of production is minimized and output is 8 units

e) If market price of orange juice is $20 per unit (p=$20), conditional on Kelly is now producing 8 units of

output in the cheapest way, what is Kelly’s total profit? Determine Kelly’s supply decision in long run

How does an increase or decrease in money supply (specifically as a result of overnight rate fluctuation) effect income, price level, and interest rate?

Over the past few decades, Disney has gone through both horizontal and vertical integration through a number of horizontal and vertical mergers. What are these mergers? What does Disney’s business include? What are the pros and cons being so integrated?

The Cold War that divided world between the United States and the Soviet Union broke out after the end of the Second World War. Discuss how the Cold War was based on ideas and concerns.

What affect, if any, do you think the precautionary principle will have on technological innovation and economic growth? Why? (500 words)

Suppose Nadine owns an apartment in San Francisco worth $108 and does not have earthquake insurance. Nadine’s wealth is $144, including the value of the apartment. Nadine’s utility of wealth function is U (W ) = 10W 0.5 . If an earthquake hits, Nadine’s apartment will be destroyed. The probability that an earthquake will hit is 0.5.

(a) Is Nadine risk averse?

(b) What is Nadine’s expected wealth?

(c) What is the largest amount that Nadine is willing to pay for comprehensive earthquake insurance?

(d) Suppose her neighbor Patricia also owns an apartment in the same building that is also worth $108. Patricia has the same utility of wealth function as Nadine but has total 1 wealth of $169, including the value of her apartment. Is Patricia wiling to pay the same premium that you solved for in part (c)? Without any calculations, how do you know?

(e) Draw Nadine’s utility of wealth function. Indicate her expected utility if she does not purchase earthquake insurance. Also indicate her wealth and certain utility if she pur- chases earthquake insurance at the premium you solved for in part (c).

How much do you think Schumpeterian creative destruction explains the American economic experience and why? How do biotech and digital technological innovations fit this answer?

Arguably the natural disaster will also affect the risk premium x: Briefly discuss how the risk premium might be affected and describe the implications for the short run equilibrium value of output.

Suppose that Canada is now in a recession triggered by the COVID-19 pandemic, with unemploy- ment and an output gap. We now analyze this situation using a New Keynesian sticky price model that we learned in Chapter 14. In particular, the labor market and the goods market do not have to clear in the New Keynesian model. Note: In this question, you do not need to show how the COVID-19 pandemic affects the economy, i.e., you do not need to compare the economy before and after the COVID-19 shock. Instead, you directly start from the fact that the economy is currently in a recession with unemployment.

1. (10 Points) Draw four separate figures illustrating the labor market, the goods market, the money market, and the production function. Make sure you illustrate clearly that there is unemployment in the economy, and label clearly the output gap in the figure of the goods market.

2. (10 Points) To help the economy recover from the recession, the Bank of Canada has cut the policy interest rate to 0.25%. At the same time, the government expenditure increases: The Government of Canada announced the COVID-19 Economic Response Plan will provide up to $27 billion in direct support to Canadian workers and businesses. Use the four figures to analyze how this combination of expansionary fiscal policy and expansionary monetary policy together helps the economy recover from the current recession by showing its impacts on output, employment, interest rate, wage, and money demand. (Hint: In our lecture notes we analyze the effects of fiscal policy or monetary policy separately, while in this question you are asked to illustrate the effects of these two policies that are implemented simultaneously.)

Why doesn't the Uniform Commercial Code cover patents? Please explain with a couple sentences.

Do you expect to benefit from the research efforts sponsored by the American Cancer Society? Do you contribute? If you answered “Yes,” then “No,” does this make you a free rider?