04 Jun Homework 1: Labor in Agricultural Household Models
Question
Homework 1: Labor in Agricultural Household Models
Most of the world’s agricultural producers are households, too. This assignment’s objective is to try to answer the question: How do market shocks affect labor demand, labor supply, and welfare in agricultural households?
Please answer the following three questions:
1. Why are most of the world’s agricultural producers different from corporate farms in California?
2. Using simple diagrams, show how each of the following, in theory, affects (i) food production, (ii) the demand for agricultural labor, and (iii) the demand for hired agricultural labor:
a. An increase in the price of food
b. An increase in the market wage
3. The EXCEL model HHFARM-2sector depicts an average agricultural household in two villages of Michoacan, Mexico. Please use this model to simulate the impacts of (a) a 10% increase in the price of food, and (b) a 10% increase in the wage, on each of the following:
i. Food production
ii. Total household labor demand
iii. Hired labor demand
4. Are the two market shocks in Question 2 good or bad for the welfare of the household depicted by the HHFARM-2sector model? Explain.
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