Please answer the following questions and carefully label , and briefly explain the following diagrams. You are welcome to write any accompanying text by hand. 5. Show how the diagram changes if there is an improvement in the technology of food production. Hint: this means that for a given number of hours’ work, Angela can produce more.    5.2. If Angela is an independent farmer, show how the technology improvement might cause her optimal labour supply to either fall or rise. Which seems more consistent with the data?

Suppose there is a simple hypothetical economy in which the only industry is weaving. In the weaving field, productivity-the amount of goods and services a worker can produce per hour-is measured by the number of garments one weaver makes per hour. In the following table, select the appropriate productivity determinant that represents each example. Human Capital per Worker Natural Resources per Worker Examples A special technique that workers can use to create stronger textiles The looms used to weave the textiles The accumulated weaving experience of the workforce The grasslands supporting the sheep whose wool is used for weaving O Physical Capital per Worker O Technological Knowledge O O

We live in a world where computers and other items of technology seem to get ever cheaper to produce. Such technology is important in the production of a vast range of consumer goods.  We wish to analyse the impact of this phenomenon on two key pieces of economic data. The main impact of the decreasing cost of technology is that (select from consumption/investment/government spending/exports/imports/economy-wide production costs/wage costs) would (Select increase/decrease) This would shift the (Select one from the picture attached) which (Select: Increse or decreases the price level) and (Select: increases or decreases GDP) Suppose that the economy is now away from long run equilibrium (GDP is above Yf).  The way that the economy adjusts back to equilibrium is that (Select: interest rates/the exchange rate/factor prices such as wages/governement spending) (Select: Increases/decreases).  This shifts the (Select one from the picture attached)

Assume that quantities do not need to be integers. That is, it is feasible for Andreas to knit 37.25 pairs of mittens. It takes Andreas 3 hours to knit a pair of mittens and 6 hours to knit a scarf. Assuming efficient production, what is the opportunity cost, in terms of pairs of mittens, of Andreas choosing to knit one extra scarf? Enter a number (and only a number, no units) rounded to two decimal places. If your answer is 1.275, enter 1.28.

Refer to Ch. 6, Fig. 6.2 (The Effect of Technological Improvement) and Example 6.2 (Malthus and the Food Crisis) Malthus believed that the world's limited amount of land would not be able to supply enough food as the population grew. As a result there would be mass hunger and starvation. But Malthus was proved wrong! Explain why Malthus' prediction about mass hunger and starvation did not come to pass.

Economics: Industrial Economics Question: 1 A firm produces output according to the following production function: q = 10 K^1/4 L^1/4 The price of capital is r = 9 and the price of labor is w = 25 and there is a set-up cost F = 90 that the firm only pays if it decides to produce in the market. If the firm wants to produce 'q' units of output, solve the cost minimization problem. Obtain total cost C* (as a function of output level q). Now assume that the firm operates under monopoly and the inverse demand function is p = 115 - 2 q Use the solution to the cost minimization problem to solve the profit maximization problem of this firm. Determine this firm's price p*. Please Show your Work. a. 55 b. 75 c. 85 d. 65   Question: 2 A firm produces output according to the following production function: q = 10 K^1/4 L^1/4 The price of capital is r = 9 and the price of labor is w = 25 and there is a set-up cost F = 90 that the firm only pays if it decides to produce in the market. If the firm…

Consider the following production diagram: 12 10 A Capital 6 2 0 0 1 Labor 4 For each of the five labeled points (A, B, C, D, and E), determine whether the correct levels of labor and capital are being used. If the correct level is not being used, explain why, and what change should be made. Hint: Start by identifying the optimal point. Being able to compare to the optimal point will assist you in determining the changes that need to be made.

What is one negative aspect of technology on productivity?         Technology allows for more products to be made in a shorter amount of time.         Technology allows companies to reduce the cost of making products.         Technology allows for more efficient ways to produce goods. This may lead to the elimination of jobs.         Technology allows for workers to work from home, which leads to fewer call-offs due to illness, inclement weather, or childcare-related issues.

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