Describe some bargaining interaction your company has with another entity (firms producing complementary or substitute products, upstream suppliers, or downstream customers), or between internal divisions within your firm. Describe the bargaining as strategic or nonstrategic interaction.

3. Problems and Applications Q3 Lucia and Sharon are roommates. They spend most of their time studying (of course), but they leave some time for their favorite activities: making pizza and brewing root beer. Lucia takes 3 hours to brew a gallon of root beer and 2 hours to make a pizza. Sharon takes 7 hours to brew a gallon of root beer and 5 hours to make a pizza. Lucia's opportunity cost of making a pizza is5/7 gallon of root beer, and Sharon's opportunity cost of making a pizza is 2/3 gallon of root beer. Lucia has an absolute advantage in making pizza, and Sharon or Lucia  has a comparative advantage in making pizza. If Lucia and Sharon trade foods with each other,Sharon will trade away pizza in exchange for root beer. The price of pizza can be expressed in terms of gallons of root beer. The highest price at which pizza can be traded that would make both roommates better off is1 1/2 gallons of root beer, and the lowest price that makes both roommates better off is1 1/2 gallons of root beer per pizza.

Are there ways that staff members can influence or change the inmate subculture? If so, how? If not, why not?

Given what you know about why family members do not visit, what ideas do you have for how prisons can increase visitation?

Are there ways that staff members can influence or change the inmate subculture? If so, how? If not, why not?

Please include excel formulas if possible.

For the dataset above answer the following:

a. What are average sales when labor costs exceed $50,000?

b. What are minimum sales when materials costs are less than $20,000?

c. What region had the highest labor costs?

d. What region has the lowest sales?

e. What was the greatest differences in sales across any two regions?

What is the relationship between asceticism and spirit of capitalism for Max Weber?

A researcher gathers data on class size (CLASS) and average test scores (TEST) from 100 fourth grade classrooms with class sizes ranging from 16 to 38 students. The researcher estimates the following simple regression model:

TEST = 510 - 5.3CLASS

(20.5) (2.2)

where the number in parenthesis are the standard errors of the estimated coefficients. The R^2 of the regression is given as R^2 = 0.08 and the standard error of the regression is 12.0.

Suppose the variable TEST were re-standardized by dividing by 100 (ie the new variable TEST2 = TEST/100 was used to repeat the regression). Please give results of the new regression using TEST2. Be sure to report the estimated coefficients, standard errors, R^2 and the standard error of the new regression.

The aggregate-demand (AD), short-run aggregate supply (AS), and long-run aggregate-supply (AS_LR) schedules are as follows. The schedules show the GDP price deflator (P) versus real GDP (Q), with Q measured in trillions of constant dollars.

1. GRAPHS: Graph the AD, AS, and AS_LR curves in the same diagram. Be sure to label the curves and the axes. Indicate potential output (Q_f) on the Q axis.

2. SHORT-RUN AND LONG-RUN AGGREGATE SUPPLY, IN GENERAL: Explain the difference in shape between the AS and AS_LR curves in general.

Note: “in general” means not just for this economy but for any economy.

3. SHORT-RUN AND LONG-RUN EQUILIBRIUM, IN GENERAL: State the general conditions for short-run equilibrium and for long-run equilibrium. Which one implies the other?

Note: “general” means not just for this economy but for any economy.

4. SHORT-RUN EQUILIBRUM, THIS ECONOMY: What is the short-run equilibrium price level? Explain your answer. What is the short-run equilibrium Q? Explain your answer. Show this short-run equilibrium price and output on the graph. Suppose that P is initially at 90. This implies that there is either excess demand or excess supply of Q—which one? And what is the amount of this excess demand or excess supply? Then explain the process of eliminating the excess demand or supply, that is, the process to reach short-run equilibrium.

5. LONG-RUN EQUILIBRIUM, THIS ECONOMY: What is long-run equilibrium GDP (Q)? Explain your answer. Assuming that the AD curve does not shift, what is the long-run equilibrium price level (P)? Explain your answer. Show the long-run equilibrium price and output on the graph. Beginning at short‑run equilibrium, describe the process to long-run equilibrium.

1. Suppose that you ran the following regression:

Wage = Bo + B1Education +e

Where wage is in 1000's of dollars. Now Suppose that your econometrics give you the following results

N= 42

1. Estimate a 95% confidence interval for B1 Show your work carefully. What does this Confidence interval tell us about the relationship between education and wages?

2. Test at the 99% level the null hypothesis that B1 is zero, versus the alternative hypothesis that it's not Show your work and write the result clearly. Also write your conclusion. Interpret your result in words using economic theory.

3. Test at the 95% level the null hypothesis that Bo is zero, versus the alternative that it's positive. Show your work, the result and write your conclusion. Explain in words what does the conclusion mean.

4. Your manager thinks that 1 additional year of education will lead to an increase in wages by 1500 dollars. Choose an alternative hypothesis and explain your choice. Does your estimated relationship support this claim? Use a 5% significance level.

People looking for medicine to relieve pain often find that there is an inherent trade-off between safety and effectiveness. Those drugs that are very effective at relieving pain, like prescription opioids such as oxycodone and hydrocodone, carry the risk of significant side effects. Other drugs, such as the non-steroid anti-inflammatory drugs (NSAIDs) like ibuprofen, are very safe but not very effective at all at reducing pain.

Suppose you know the following:
• The individual always values making a drug safer; however, the incremental gain in effectiveness decreases as the safety level increases;
• The individual always values more pain relief; however, the incremental gain in safety decreases as the pain relief increases;
• If the options are opioids or NSAIDs, he chooses opioids.
• Marijuana’s safety is halfway between the high safety of NSAIDs and the low safety of opioids. It’s effectiveness at pain relief is uncertain.

a. Draw a graph with the attributes (safety and pain relief) on each axis. Draw indifference curves to show that the individual prefers opioids over NSAIDs.
b. Define the marginal rate of substitution in this context. Is the MRS higher for NSAIDs or opioids? Explain how you know.
c. An opponent of medical marijuana makes the argument that marijuana should not be legal since it isn’t as effective as opioids at pain relief. Does marijuana need to be as effective as opioids in relieving pain in order for the individual to prefer it? Indicate on the graph the minimum level of pain relief that marijuana needs to achieve in order for it to be preferred to opioids. Label the difference between this minimum and the pain relief achieved from opioids as A.
d. A proponent of medical marijuana believes that marijuana may help society, especially if the drug regulators ban opioid use. Indicate on the graph the minimum level of pain relief that marijuana needs to achieve in order for it to be preferred to NSAIDs. Label the difference between NSAIDs pain relief and this minimum to make marijuana preferable over NSAIDS as B.
e. Compare the difference A you found in part c to the difference B you found in part d. Why is A so much bigger than B?

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