Question 2 (300-500 words)
Every society, regardless of its wealth and power, must make certain choices
about production and distribution. Specifically, every society faces three basic
economic decisions:
What goods and services to produce and in what quantities?
How to produce these goods and services, or how to use the economy's
resources?
Who gets these goods and services
Briefly explain how these questions are answered in your country. How does the
availability of resources in your country influence the economic decisions fo individuals,
organizations, and government?

1.) Individual A and B have the following preferences: uA = (x1A) · (x2A)3 and uB = (x1B ) · (x2B ). Their endowments are given by ωA = (3, 0) and ωB = (0, 3). Solve for (and graph) competitive equilibrium and the contract curve.

2.) Individual A and B have the following preferences: uA = ln(x1A) + ln(x2A) and uB = ln(x1B ) + ln(x2B ). Their endowments are given by ωA = (2, 6) and ωB = (2, 4). Solve for (and graph) competitive equilibrium and the contract curve.

3.) Now re-solve problem 2 but replace individual A’s preferences with uA = x1Ax2A +x2B. That is, individual B has a positive externality on individual A.

Question 1 (750-1000 words)
Since the recent Great Recession of 2007-2009, there has been increasing
disillusionment with the free market system. Briefly define “free market system” and
identify and describe at least three of its major concepts or attributes. Then, critically
analyze the view that the free market system is the best and only realistic alternative for
determining the allocation of resources in an economy. Provide evidence to support
your analysis.

Decide in 250 words American Apparel: What did they do well? Is there anything they didn't consider? please type

Two goods are given, where x₁ and x₂ are the number of units of these goods. The preference structure of a consumer is given by the following (ordinal) utility function:

u (x₁, x₂) = x₁ * x₂

The indifference curves show a strictly convex course to the origin. The prices of the goods are given by p₁ and p₂. The consumer wants to achieve the level of utility ū with minimal expenditure.

1. Determine the Hick’s demand function
2. Please specify the output function e(p, ū). What exactly does it say?
3. Now use Shepard’s lemma from the output function to determine the Hick’s demand functions.

Explain why the countries in Africa should better integrate.

Why is economic growth a goal of most if not all nations of the world? Why is investment in technology and human capital important ingredients of economic growth?

Algebraically derive the government spending and tax multiplier for the case in which tax revenues depend on income level. Verbally explain what you do in each step of the derivation.

please do not copy on Chegg i want another type answer thanks and please do not write handwriting

SWOT analysis on expanding movie industry

After the pandemic effects of economic measures taken in Turkey's economy likely to create the framework for the IS-LM model to discuss monetary policy.
Discuss the possible negative shock situation due to the pandemic over the AD-AS curve.

1. In monopolistically competitive markets, the property of free entry and exit suggests that

1. the market structure will eventually be characterized by perfect competition in the long run.
2. all firms earn zero economic profits in the long run.
3. some firms will be able to earn economic profits in the long run.
4. some firms will be forced to incur economic losses in the long run.

2. If, to begin, a market is perfectly competitive, and then it is taken over by three or four firms, we would expect, as a result,

1. an increase in market output and an increase in the price of the product.
2. an increase in market output and an decrease in the price of the product.
3. a decrease in market output and an increase in the price of the product.
4. a decrease in market output and a decrease in the price of the product.

1. Following is the schedule of quantities that would be supplied and demanded at various prices for oranges. Price Quantity Demanded Quantity Supplied $10.00 200 600 9.00 250 550 8.00 300 500 7.00 350 450 6.00 400 400 5.00 450 350 4.00 500 300 3.00 550 250 2.00 600 200

a. Graph the supply and demand curves. Identify the market equilibrium price.

b. If 40% of the orange crop is lost due to bad weather, show the impact on the market using the chart with any changes to the supply and/or demand curves to identify the new equilibrium price. (Use the additional column on the chart as needed to calculate new quantities and graph them to identify the impact on the market.)

2- For each of the following situations, use supply and demand curves and a written description to explain the effect on the market, including the changes in equilibrium price and quantity and any initial shift in either supply or demand.

1. The effect on the market for new automobiles if auto manufacturers must pay an increase in wages for auto workers.

2. The effect on the market for air travel if high-speed rail at 300 km/hr is introduced.

3. The effect on the market for Netflix if prices for satellite TV double..

4. The effect on the market for wheat if farmers improve production efficiency with better equipment.

1. Do you agree with Beccaria's assessment of the death penalty? Explain.
2. What portions of his reasoning do you most agree or disagree with?