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Q. A country ("Home") is populated with workers who produce either food (F) or clothing (C). There are 200 workers producing food and 100 producing clothing (these numbers are fixed in the short run.) Each food worker produces 6 units of food and each clothing worker produces 3 units of clothing. Workers own output which they produce and can trade with another. All workers share the same preferences over food and clothing represented by the utility function: U(DC,DF) = DCD2F. a) What is the autarky trade price (the relative price of food and clothing) in this economy? b) In autarky, how many units of food and clothing will be consumed by a clothing worker also with a food worker? c) There also exists another country ("Foreign") that looks surprisingly like the Home country except that there are 600 food workers and 300 clothing workers in this country. These workers have different (lower) productivity levels: a food worker can produce only 1 unit of food while a clothing worker can only produce 2 units of clothing. Workers in overseas allocate the same preferences as those in their Home. d) Compare the consumption levels of workers in both countries. Explains the diversity between the countries?
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What is the amount A in actual dollars equivalent to A’ = $1,000 in constant dollars? Please provide step by step detail
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The NHFishercats are debating whether to build a new restroom in the leftfield area near the patio adjoining the bar/restaurant located there
List out the distinct characteristics of a perfectly competitive labor market and compare them to the characteristics of monopsony.
Forecast the demand for pizza in your community for the next four (4) months using the regression equation, including the assumptions that were used to create the demand. Justify the assumptions made related to the forecast
Select a multinational firm of your choice and describe its corporate-level and business unit-level strategies. Support your answer with relevant data.
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