Smith owns orange orchards in California. Every year he harvests and sells his products in a market. In California, there are 40,000 orange farmers, and therefore Smith accounts for a tiny proportion of the total market size. This means he does not have any power to determine the market price of orange. Oranges produced in California are assumed to be fairly identical although there is a slight variation in taste, size, and quality, etc. This year (2015), Smith produced oranges significantly more compared to last year (2014). According to agricultural scientists and economists, it may be due to the fact that a number of kettle and livestock, owned by his neighbor, Jim, who crossed over the fence of orange orchards, increasing the amount of manure significantly in his orchards. It has been known that manure could serve as a valuable fertilizer since it provides many nutrients for crop and fruit production. However, too much manure can lead to nitrate leaching, accelerated level of eutro

U.S. Efficiency “The United States can make certain toys with greater productive efficiency than can China. Yet we import those toys from China.” Relate your answer to the ideas of Adam Smith and David Ricardo. I need a short essay on this question here. Following is what I know; The United States can make toys more efficiently than can China, but it would also cost more to produce. Adam Smith’s idea basically states “Never attempt to make at home what will cost you more to make than to buy. If a foreign country can supply us with a commodity cheaper than we can make it, better buy it of them with some part of the produce of our own industry, employed in a way in which we have some advantage (McConnell, Brue, & Flynn, 2011, p. 757).” David Ricardo extended Smith’s idea by demonstrating that it is advantageous for a country to specialize and trade with another country even if it is more productive in all economic activities than that other country (McConnell, Brue, &

1. If government increases the excise tax on tires and the tax is added to the price, describe how we can determine the incidence of the tax between the consumer and the seller 2. What are the three sources of funding for the public sector? Can the government rely on all of these sources in the long run? Explain. 3. What are externalities? Describe how government corrects for positive and negative externalities. 4. Suggest four possible solutions for the problems currently faced by Social Security and how they would resolve the problems. 5. Define the business cycle. Identify the phases of the business cycle and explain what is happening to spending, output and income, employment and prices in each phase. 6. Define Capitalism and identify and explain the characteristics of a capitalist system. 7. What is meant by full employment? Discuss the four types of unemployment?

Write a minimum of a 1,300-word analysis on the following two topics Active monetary and fiscal policy Increased government spending to fight recessions Evaluate both the advocates' position and the critics' position. Determinewhich position you support and defend your position. Cite a minimum of 3 peer-reviewed sources v

You may use either Excel or Stata to complete the project. Regardless of which software you use, you must document with images each step. Briely explain your work throughout the project: what is the purpose of the calculations you are doing? The main goal of the project is for you to understand the theory behind optimal portfolio choice, as well as nd good data sources and become familiar with using statistical software. Important: The project should look and read like a short paper. In particular, it should have an Introduction section, a Data section, a Results section etc.

Shark Inc. just paid a dividend of $3.40 on its stock. The growth rate in dividends is expected to be a constant 5 percent per year indefinitely. Investors require a return of 13 percent for the first three years, a return of 11 percent for the next three years, and a return of 9 percent thereafter. What is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)  

Explain the difference between a high- and a low-context language? What kinds of problems do you think that an individual from a low-context language may experience when negotiating with people from a high-context language?  

ECON 200 - Fall 2016 Problem set 3 Readings for the 4th week of class Chapters 8-9 of Hal Varian’s textbook, chapters 8-9 of Victor Lima’s lecture notes. Problem 1 A consumer is facing the following utility maximization problem: 1 2 maxx1 ,x2 x13 x23 s.t. p1 x1 + p2 x2 ? m x1 , x2 ? 0 a) Set up the Lagrangian for this problem and write down the first order conditions. c) What is the solution to the above problem when (p1 , p2 ) = (5, 4) and m = 30? d) Write down the Marshallian demands for goods 1 and 2. e) What happens to the Marshallian demand when prices and income double? What property of the Marshallian demand can you invoke to answer this question? f) What fraction of her income does the consumer spend on good 1? What fraction on good 2? g) Write down the indirect utility function associated of the above problem. What is the consumer’s indirect utility function associated with the solution to the above problem when (p1 , p2 ) = (5, 4) and m = 30? h) What is the partial deri

Name: __________________________ Date: _____________ 1. If the marginal rate of substitution of cookies for brownies equals the relative price of cookies in terms of brownies when the consumer is on the budget line, the consumer: A) is maximizing total utility. B) should consume more cookies and fewer brownies to maximize total utility. C) should consume fewer cookies and more brownies to maximize total utility. D) may or may not be maximizing total utility. 2. The number of seats in a football stadium is fixed at 70,000. The city decides to impose a tax of $10 per ticket. In response, the team management raises the ticket price from $30 to $40 and still sells all 70,000 tickets. The tax caused a change in the consumer surplus of ________, a change in the producer surplus of ________, and a deadweight loss of ________. A) –$10; $0; $10 B) –$700,000; $0; $700,000 C) –$10; $0; $0 D) –$700,000; $0; $0 Use the following to answer question 3: Figure: Consumer Equilibrium III Page 1

The main structure should be: Executive Summary (not exceeding 150 words) on a separate front page; Introduction; Body (Analysis); Conclusion; Reference list and a clear listing of data or other sources and definitions at the end. (N.B. Reference list is not included in the 750 word limit; but everything else is.) Footnotes should be avoided. If any figures and/or tables are used, they should be placed in the body of the essay, and be numbered sequentially. Any illustrations used must be very clear and easy to understand.