Consider the production function below.

?(?, ?) = ?^1/2 + ?^1/2

a) Find the demand for labor and capital
b) Draw the demand curve for labor
c) Does the production function exhibit diminishing marginal returns of labor?
d) Is the production function exhibiting increasing, constant or decreasing returns to scale?

Prepare a report on the market for organic foods in the United States. The paper is to be a report on the market for organics, using the determinants of demand, determinants of supply, and how supply and demand determine price. The focus of the paper should not be on the health benefits of generic goods, but on the demand, supply and price dynamics of the market for generic foods.

• Your paper should have an introduction, body and conclusion.
• There should be at least five (5) references at the end of the paper, using APA format.
• The paper should be no fewer than three, but no more than five pages.
• Use one inch margins and the paper should be double spaced.

Remember this is not just a report on organic food, but an economic analysis of the market for organic foods. The paper should discuss the demand for organic foods, the supply of organic foods, and then the resulting price of organics. Be sure and ask if you have any questions.

1. The substitution effect of a price increase:

A. the consumer to purchase less of the good that is now relatively more expensive.

B. causes the consumer to purchase more of the good whose price has risen.

C. can cause the consumer to purchase either more or less of the good.

D. has no effect on the amount purchased of either good.

2. Income Effect refers to

A.change in consumption choices resulting from a change in relative prices

B.change in consumption choices resulting from a change in purchasing power

C. change in consumer's preference

D. an change in happiness when you get a raise

3. What is (are) the condition(s) of the theoretical budget constraint that we need to draw to find the substitution effect?

A.parallel to the new budget constraint

B.but tangent to the old indifference curve

C.parallel to the new budget constraint, but tangent to the old indifference curve

D. parallel to the new budget constraint, tangent to the old indifference curve, and below the new indifference curve

4. The market quantity demanded at each price is

A.the difference of the individual quantities demanded at each price

B.the highest individual quantities demanded

C.the lowest individual quantities demanded

D. the sum of the individual quantities demanded at each price

5. What do we call the observed change in consumption of a good after a price change?

A.The income effect

B.The price effect

C.The total effect

D.The substritution effect

Please type it out

Andy deposits $1000 into his checking account at First National Bank.

a). What happened to M1 (narrow money supply)?

b). How does First National T-accounts change after Andy’s deposit?

c.) Banks in this economy like to keep 10% of deposits in reserves. How does First National change its T-account?

d.) The loans that First National Bank makes are spent and sellers deposit their proceeds in their checking accounts. Suppose this process goes on many, many times. What will be the total amount of checking deposits after many many rounds?

e.) What will have happened to the narrow money (M1) at the end of these rounds? Give numerical answer.

• “What is a production possibilities curve? What moves an economy along its production possibilities curve? What factors shift the production possibilities curve? (Provide details.) What key assumption must be changed for the production possibilities curve to shift? Explain why. Illustrate your answers with graphs if applicable.

A good incentive compensation scheme?

describe the position of the developing economies within the world economy. Are there certain inequalities that work against them? Do international agreements favor developed countries and multinational corporations? Can we talk about unequal exchange or resource transfer from developing economies to developed economies?

Explain the fracturing of Imperial Rome. How and why did Rome transform from a unified empire to a group of fractured states in the West, and the Byzantine Empire in the East?

3- Sectoral Shifts in supply and demand of labor it takes time for people to acquire new skills for the new jobs available in the market. What types of jobs are rising and falling in demand in the US, recently?

1. a. Explain what is meant as the neutrality of money. b. Using the closed economy model we discussed in class, demonstrate and describe how money may or not hold in the short-run and long-run after a change in monetary policy.

Your job is to calculate concentration ratios for different industries. Based on this information, answer the following three questions. Where necessary, please ensure that you show FULL calculations, and keep your answers to 2 decimal points. (a) What is the difference between the Herfindahl Hirschman Index (the HHI) and the n-firm Concentration Ratio? (b) Suppose that there are a total of 6 firms in an industry. You find out that the sales are as follows: Firm 1 has annual sales of $2000; Firm 2 has annual sales of $1800; Firm 3 has annual sales of $1500; Firm 4 has annual sales of $700; Firm 5 has annual sales of $600 and Firm 6 has annual sales of $250. Calculate the HHI for this industry. (c) Now suppose that in a different industry, which is called Industry JKL, and which has 5 firms, you find that the sales of four of the firms are $650,000, $250,000, $150,000, and $145,000. If the C4 ratio is 95 percent, then what is the HHI?

Your firm manufactures optic transistors (OT), which are a component of personal computers. U.S. firms control 60 percent of the U.S. market for OTs. The market has done well overall, but recently, Japanese manufacturers of computers have increased their market share. Over the past two years, the Japanese have been exporting OTs to the United States in larger quantities. You have noticed that in the past two years your firm's share of the U.S. market for OTs has dropped from more than 25 percent to less than 20 percent. In addition, your firm's total sales have declined, its inventories are at their highest levels, and you have had to postpone hiring new employees. You have been informed by one of your better customers that it can purchase imported OTs for $0.95 each, ex factory, or $1.00, CIF American port. Your U.S. price has been $1.20, FOB your factory, with your costs at $0.90. The same OTs are sold to Japanese computer firms at $1.15. Furthermore, you have learned that the Japanese government assists OT manufacturers by rebating the value-added tax normally assessed on all products manufactured in Japan. To complicate your problems, you have experienced difficulty cracking export markets. You have noticed that countries in which personal computers are now being assembled, such as Brazil, Korea, and Taiwan, have restricted your firm's imports through a maze of complex regulations. These regulations require that you disclose important manufacturing and design techniques before import licenses will be granted. You are also concerned that your design patents will not be protected there, because Korean patent protection laws are not enforced. Korea has imposed quotas on OTs that make it virtually impossible to export to that market. What remedies are available to your firm under U.S. law? What factors (economic, political, or other) will affect the outcome of the case? Please be as specific as possible.