Consider the production function ? = ?? ?? ? where ? is output, ? is capital, ? is labour and ?, ? and ? are positive parameters.

a. Derive the parametric conditions under which production exhibits CRS, IRS and DRS, respectively.

b. Let ?(?,?0) be the isoquant associated with output level ?0. Derive the expression for ?(?,?0). In a graph, illustrate this function and the effect of an innovation represented by an increase in the value of ?.

c. For output level ?0, let the cost-minimizing input levels be ? ∗ (?, ?) and ? ∗ (?, ?), where ? and ? are the prices of labour and capital, respectively. Derive the functions ? ∗ (?, ?) and ? ∗ (?, ?).

a)- From the time period of 1970 and more significantly in 1980s & 1990s, the financial institutions are seriously facing growing market risks. Given the greater need for risk reduction, financial innovation came to assist financial institutions by offering new financial products and services that help financial institution to manage risk in a better way. Briefly define hedging and its role in diversifying risk.

b)- Explain and differentiate the following: Forward Markets, Financial Futures Markets and Options

What kinds of innovations effected the way that agricultural markets transitioned from craft production to mass production? Discuss a specific innovation that effected the evolution of agricultural production. How did the make-up of the agricultural labor force change and how did changes in efficiency and productivity in agricultural labor effect supply, demand and wages in the agricultural markets? What other policies and structural changes have affected agricultural production in the US in the past 300 years?

Assume that you are a young, motivated entrepreneur, hungry to start your own company and reach great success.

Of the following 4 entrepreneurial strategies, which one or combination of more than one, would you select in starting your business? Explain why you made that choice.   (You may also explain the product or service that your company provides since that may influence the choice of your strategy)

Growth

Innovation

Network

Financing and Governance

During recent decades, the rate of increase in the output per hour in the United States has been lower than in the early 1960s. This development has caused enormous concerns in Washington and elsewhere. In recent years, some observers have asserted that the productivity slowdown has been due in part to a decline in the rate of innovation in the United States. Have you seen this trend in your industry? If so, identify the cause and effects. If not, what innovations have you experienced?

"Despite the emergence and development of evidence-based practice (EBP) in recent years, its adoption continues to be limited. This study used Rogers’s diffusion of innovation theory to identify the factors that advance EBP adoption, determine the process by which such adoption occurs, and develop an EBP adoption model" (Mehdi Mohammadi et al., 2018).

In 500 words discuss the above statement and show how EBP can be adopted into your work environment. Give relevant examples.

Organizing for Innovation:

1. Do think you Tesla will become a household name in the auto industry with its electric vehicles? will they achieve an affordable electric vehicle for the masses?
2. Would you agree with the idea that flexible and open environment is conducive for employees to innovate, Why or why not?
3.   How much of Tesla’s success or failure would attribute to Elon Musk? would you in any way compare it to Apple and Steve Jobs?

Please answer in a paragraph for each question! Thank you!

In this section I want you to pick a technology and profile it’s evolution over the years (e.g. power, communication, travel). Explain how innovations in this technology have benefited society and helped us make use of our scarce resources.

I chose a smartphone.