Ction function and the marginal product of labor in each orchard: qq = = 120l−l2120l−l2 mplmpl = = 120−2l120−2l where qq is the number of apples produced in a day, ll is the number of workers, and mplmpl is the marginal product of labor. now, suppose the price of apples is back at $2 per apple, but a hurricane destroys half the orchards so only 20 orchards remain. recall that each orchard's labor demand as a function of the daily wage is l=60−0.25wl=60−0.25w . what is the market's labor demand? l=120−10wl=120−10w l=1,200−10wl=1,200−10w l=60−0.25wl=60−0.25w l=1,200−5wl=1,200−5w ectenia continues to have 200 workers who supply their labor inelastically. the equilibrium wage is nowper worker per day. each orchard hiresworkers and makes a profit ofper day. (note: assume that wages are the firm’s only costs.) total income in the country (defined as workers' income plus orchards' profit) was equal to $46,000 before the crop destruction. true or false: total income of ectenia rose as a result of the crop destruction. true false

Consider the following scenarios. use what you have learned to decide if the goods and services being provided are individual, public, or merit goods. for each case, state what kind of good has been described and explain your answer using the definitions of individual, public, and merit goods. (6 points each) 1. from your window, you can see a city block that's on fire. you watch city firefighters rescue people and battle the flames to save the buildings. 2. while visiting relatives, you learn that your cousins attend a nearby elementary school that is supported financially by local property tax revenue. 3. you see a squadron of military jets flying overhead. 4. you find out that your aunt works for a defense manufacturing company that has several defense contracts with the government. she tells you that she works for a team that is producing a communications satellite. 5. your class visits a local jail run by a private, profit-making company that detains county criminals and is paid with tax revenue.

In december of 2004, the company you own entered into a 20-year contract with a grain supplier for daily deliveries of grain to its hot dog bun manufacturing facility. the contract called for "10,000 pounds of grain" to be delivered to the facility at the price of $100,000 per day. until february 2017, the supplier provided processed grain which could easily be used in your manufacturing process. however, no longer wanting to absorb the cost of having the grain processed, the supplier began delivering whole grain. the supplier is arguing that the contract does not specify the type of grain that would be supplied and that it has not breached the contract. your company is arguing that the supplier has an onsite processing plant and processed grain was implicit to the terms of the contract. over the remaining term of the contract, reshipping and having the grain processed would cost your company approximately $10,000,000, opposed to a cost of around $1,000,000 to the supplier. after speaking with in-house counsel, it was estimated that litigation would cost the company several million dollars and last for years. weighing the costs of litigation, along with possible ambiguity in the contract, what are three options you could take to resolve the dispute? which would be the best option for your business and why?

What two things do you consider when evaluating the time value of money