A baker can produce two products: cupcakes and pies. The table below is the baker's production possibilities schedule: Product Cupcakes Pies Production Possibilities Schedule C 20 6 A 0 10 B 12 8 D 36 4 E 56 2 Going from E to C shows that the opportunity cost of an additional 4 pies is F 81 0
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- Computers per year) 200 150 100 50 25 50 75 100 125 VCRs (per year) The fgure above illustrates a smal country's production possibites tronter Moving trom pont Cto pont the per unt opportunity cost of compulers s p conpuler OA 4VCRS OB. 1/4 of a VCR OC 45 of a VCR O0 computer OE 54 of a VCRWhat does a production possibilities frontier illustrate?HighFlyer Airlines wants to build new airplanes with greatly increased cabin space. This will allow HighFlyer Airlines to give passengers more comfort and sell more tickets at a higher price. However, redesigning the cabin means rethinking many other elements of the airplane as well, like engine and luggage placement, and the most efficient shape of the plane for moving through the air. HighFlyer Airlines has developed a list of possible methods to increase cabin space, along with estimates of how these approaches would affect the planes operating costs and ticket sales. Based on these estimates, Table 13.5 shows the value of R, how much should the firm invest in R on top of the private return; that is, an R private return to HighFlyer Airlines would have a 9 social return. How much investment is socially optimal at the 6 interest rate?
- Sketch a plausible production possibility frontier that shows in general various combinations of wheat and potatoes a farmer can produce with the fixed amount of resources available to him? Label your diagram well for example your axesbut you dont have to use any specifc numberThe nation of Rougarou is able to produce turnips and potatoes in combinations represented by the data in the following table. Each number represents thousands of bushels. B E 90 0 10 B. Attainable and Efficient OC. Unattainable and Inefficient OD. Only Efficient OE Unattainable and Efficient A Turnips 100 Potatoes 0 OF. Attainable and Inefficient OG. Only Unattainable OH. Only Inefficient C 70 20 A production point that contained 70,000 bushels of Turnips and 30,000 bushels of Potatoes would be classified as: OA. Only Attainable D 40 30 40The Boswell Fruit Farm produces only oranges and papaya. Table 1 below shows the maximum possible output combinations of the two fruits using all resources and currently available technology. Answer the questions below and show calculations where appropriate. Table 1 Boswell Fruit Farm Possible Output Combinations Oranges Papayas (thousands of kilos) (thousands of kilos) A 140 0 B 120 20 C 100 38 D 80 52 E 60 64 F 40 74 G 20 80 H 0 82 Which of the possible output combinations represent the lowest opportunity cost for one thousand kilo of papayas? Show your calculation to support your answer.
- MNLogs harvested logs (with no inputs from other companies) from their property in northern Minnesota. They sold these logs to MNLumber for $2,500 and MNLumber cut and planed the logs into lumber. MNLumber then sold the Ilumber for $4,000to MNFurniture. MNFurniture used the lumber to produce 100 tables that they sold to customers for $90 each. Instructions: Enter your responses as whole numbers. a. Complete the table below to calculate the value added by each firm. Company Revenues Cost of purchased inputs Value added MNLogs $ $ MNLumber $ $ $ MNFurniture $ b.Suppose that all of these transactions took place in 2016. By how much did GDP increase because of these transactions? 2$ c.Suppose that MNLogs harvested the logs in October 2016 and sold them to MNLumber in December 2016. MNLumber then sold the finished lumber to MNFurniture in April 2017 and MNFurniture sold all 100 tables during the rest of 2017. By how much did GDP increase in 2016 and 2017 because of these transactions? GDP…Homework (Ch 02) 100 Tools 80 PPE 60 70, 41 20 20 40 60 80 100 ALFALFA (Millions of bushels) Complete the following table by indicating whether each point represents output combinations that are inefficient, efficient, or unattainable. Check all that apply. Point Inefficient Efficient Unattainable C E F OO0 O00 +u LAPTOPS (MIllions)Economics Question
- The table below represents the combinations of beef and corn produced on a tract of land of a given size and fertility Corn (bushels) Beef (kg) 10000 8000 6000 900 1200 4000 1400 2000 1475 0. 1500 Which of the following combination represents unattainable production levels with the current tract of land? Select one: O a. 8000 bushels of corn and 500 kg of beef O b. 200 bushels of corn and 1475 kg of beef O c. Both 8000 bushels of corn and 1200 kg of beef and 6000 bushels of corn and 1300 kg of beef O d. 8000 bushels of corn and 1200 kg of beef O e. 6000 bushels of corn and 1300 kg of beefThe table below shows Lanark's production possibilities. A B C D E F Wheat 75 132 168 187 194 Cars 76 72 65 51 29 a. If Lanark is producing 58 cars, it can produce approximately wheat. b. If Lanark is currently producing combination C, the cost of 36 more wheat is (Click to select) v c. If Lanark is currently producing combination D, the approximate per unit cost of an additional car is necessary, round your answers to 1 decimal place. Remember to round 0.05 up to 0.10. (Click to select)of 20) - Goog e Chrome oho?attempt-18127038.cmid3D8792928pa NG SYSTEM (ACADEMIC) ples of Microeconomics Spring21 Time left 0:18:1 Which of the following statements is FALSE? O a. The maximum price people are willing to pay for one more unit of a good is its value. O b. Agood's marginal benefit is the maximum price people are willing to pay for another unit. O c. The value of one more unit of a good is the good's marginal benefit. O d. None of the above because all the statements are true. NEXT PAGE e to search Address DELL