Assume that Henry and Madeleine can switch between producing parasols and producing porcelain plates at a constant rate. Labor Hours Quantity Produced in 36 Hours Parasol Needed to Make 1 Plate Parasol Plate 18 18 Henry Madeleine2 Assume that Henry and Madeleine each has 36 labor hours available. If each person divides his/her time equally between the production of parasols and plates, then total production is a.18 parasols and 6 plates. b.18 parasols and 7.5 plates. c. 16 parasols and 12 plates. d.36 parasols and 15 plates. 4
Q: 1. How do both consumers and firms benefitted from the economies of scale? 2. Large business enjoys…
A: Answer - "Thank you for submitting the questions.But, we are authorized to solve one question at a…
Q: The following shows different technologies for producing 100 metres of cloth. Technology Number…
A: The process that is known to depict a combination of various inputs that are material and immaterial…
Q: Why is total efficiency units of labor used as an indicator of how much the economy can produce? O…
A: As a way of measuring how well/efficient, the performance of the workforce is, the method that is…
Q: Question 13 For what kind of society does a shift away from the production of capital goods and…
A: Consumer goods are those goods that are produced for the consumption of average consumers. For…
Q: Let's say we are producing two products, pi and p2, by using two raw materials, r1 and r2. To make…
A: Due to the existence of limited resources, the consumer will have to make choices to maximise their…
Q: 1. Define the Following A. Economics B. Factors of Production C. Scarcity
A: NOTE: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: 20. Assume that to produce 5 cars, a firm can use one of the production methods below. If the cost…
A: When it comes to economic efficiency, it is a state of things in which every resource is distributed…
Q: Which of the following combinations of meat and potatoes could the rancher not produce in 24 hours?…
A: The following table contains information about the units of meat and potatoes produced by farmer and…
Q: 4. Refer to Table 3-2. Assume that England and France each has 10 labor hours available. If each…
A: Given: Total hours available with each country=10 hours Production of: Cheese and Wine To find:…
Q: The question is simple. Consider an economy with just one technique for production of each good:…
A: Production possibility curve Capital requirements per unit of food and cloth are 0.8 and 0.9,…
Q: Nabia Pada 15 10 Corn Corn (units) 10 (units) 60 24 30 Wheat Wheat (units) (units) In Exhibit above,…
A: The production possibility curve shows the combination of two goods that can be produced with the…
Q: 5. Opportunity cost and production possibilities Hubert is a skilled toy maker who is able to…
A: Opportunity cost is the sacrifice made in one commodity to get more of other. It can be said as the…
Q: Which of the following is not an assumption that underlies an economy's production possibilities…
A: The production possibilities curve (PPC) is the downward sloping curve which is concave to the…
Q: Graphing: Using the Production Possibilities Schedule above, make a Production Possibilities…
A: Production Possibility Frontier is the graphical representation of two goods that an economy can…
Q: Production Possibilities Products A В D Steel 1 2 3 4 Wheat 100 90 75 55 30 Refer to the above…
A: In business analysis, the production possibility frontier (PPF) is a curve illustrating the varying…
Q: Graphing: Using the Production Possibilities Schedule above, make a Production Possibilities…
A: "In economics a production possibility frontier represents the different combination of the two…
Q: 2. Bangladesh Production The following production possibilities table data represent the amount of…
A: Given production possibilities schedules Points/options T-shirts Shorts A 80,000 0 B 60,000…
Q: In the production process, both the average product and marginal product of the variable- input rise…
A: The statement that "In the In the production process both the average product and marginal product…
Q: 1. What Is the relationship between a country's population and its available resources? O There is…
A: There are direct relationships between population and resources that are attracting the attention of…
Q: 1. Suppose Worker A and Worker B produce knives and forks. Worker A has to work for 2 hours to…
A: d) B works only on knives, Needs 10 hours to produce knife. Time = 20 hour
Q: II. Graphing: Using the Total Production Frontier below, make a TPF graph with proper point and axis…
A: Total production frontier denotes the relationship between number of workers and total quantity…
Q: 3. a) How would economic contraction brought about by Covid - 19 slowdown be represented using…
A: The production possibility curve (PPC) is a graphical representation that shows possible…
Q: If you are trying to use a RDD setup to evaluate the effect of health insurance on health, and you…
A: Income: It is cash what an individual or business gets in return for giving work, delivering a…
Q: 50 40 PPF 30 20 10 10 20 30 40 50 60 cloth
A: For gaining 10 units of cloth 10 units of wine has to be sacrificed. Opportunity cost=sacrifice/gain…
Q: Opportunity Cost(Foregone Number of brushes) Number of Opportunity Cost (Foregone combs) NA…
A: Opportunity cost is the cost of forgoing one good to produce more of the other good. Production…
Q: Parts c and d in the attached image please
A: We are given two countries Australia and New Zealand. Both countries produce and consume two goods…
Q: efer to the table which shows the technology of production at the Matsuko's Mushroom Farm for the…
A: Average product refers to number of units of output produced using a sing unit of variable input…
Q: Deborah is a skilled toy maker who is able to produce both boats and kites. She has 8 hours a day to…
A: The production possibility curve (PPC) is a diagram that shows the entirety of the various bundle of…
Q: 4. Consider a world that consists of two countries, Australia and New Zealand. Both countries…
A: The Hecksher-Ohlin (HO) theory takes into account two countries, two commodities, and two factors…
Q: 1. Suppose Worker A and Worker B produce knives and forks. Worker A has to work for 2 hours to…
A: The following problem has been solved as follows:
Q: Using the following table with the resources and their cost per unit, which production choice would…
A: The primary objective of any business entity is to maximize profits. Thus, to earn high profit a…
Q: 3. Assume that a business firm finds that its profit is greatest when it produces $40 worth of…
A: Given: Profit is greatest when it produces $40 of Product A Techniques available: 1, 2 Resources:…
Q: ASAP!! ANSWER PLEASE Suppose there are only two commodities that can produced in an economy,…
A: Answer: PPC (production possibility curve)= PPC curve is a curve that shows the various combinations…
Q: 8) Which of the following are considered factors of production? LLand II. Labor III. Physical…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: Atte Thinking about scarcity in terms of the economic way of thinking, why does scarcity exist?…
A: Answer: Scarcity occurs due to the unlimited wants of people and limited resources. When the limited…
Q: For a,b, and c, please draw a graph. Suppose there' sa relationship of the following sort between…
A: The Production Possibilities Curve (PPC) depicts the tradeoffs that occur when resources are…
Q: Characterize the different types (interconnected, multidirectional, conflicting, reverse, etc.) of…
A: Globalization is a trans-planetary process or set of processes involving increasing liquidity and…
Q: 1. Suppose Worker A and Worker B produce knives and forks. Worker A has to work for 2 hours to…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: 12 7 10 6. D 4 eBook o 2 4 6 8 10 Computers Refer to the diagram. If society is currently producing…
A: A Production Possibility Curve shows the different possible combination of two goods that an economy…
Q: Specify and explain the typical shapes of marginal-benefit and marginal-cost curves. How are these…
A: Marginal Benefit is the willingness to pay of a consumer for additional unit of goods and services.…
Q: Shows in table how the average costs of production for semiconductors(the“chips”incomputermemories)…
A: Economies of scale are the cost advantages, which can be achieved by increasing production or…
Q: Possibilities ontier iction Possibilities Frontier 28 PPFN PPFn 24 20 Point E 20 Point E PPFO PPFO…
A: In fig c,both product x and y have increased,causing economic growth due to improvement in…
Q: Country JKL has a maximum of 50 labour(hours). The tab shows maximum quantity of wheat and cotton…
A: Production possibility curve shows combinations of the output of two goods that are being produced…
Q: Country (Bushels per hour of labor) (Pairs per hour of labor) Euphoria 8. 32 Contente 12 24…
A: Hi thanks for the question. Since there are multiple sub-parts in the question, we will answer for…
Q: 9-1 a and b
A: The given production possibility curve shows that the economy allocates resources in the production…
Q: The table below shows three different technologies used to produce various levels of output. Output…
A: Technology refers to the e use of tools, machines, materials, techniques and sources of power to…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Alexi and Tony own a food truck that serves only twoitems, street tacos and Cuban sandwiches. As shownin the table, Alexi can make 80 street tacos per hourbut only 20 Cuban sandwiches. Tony is a bit faster andcan make 100 street tacos or 30 Cuban sandwiches inan hour. Alexi and Tony can sell all the street tacos andCuban sandwiches that they are able to produce.Output Per HourStreet Tacos Cuban SandwichesAlexi 80 20Tony 100 30a. For Alexi and for Tony, what is the opportunity cost of a street taco? Who has a comparative advantage in the pro-duction of street tacos? Explain your answer. b. Who has a comparative advantage in the production ofCuban sandwiches? Explain your answer. Assume that Alexi works 20 hours per week in thebusiness. Assuming Alexi is in business on his own, graphthe possible combinations of street tacos and Cubansandwiches that he could produce in a week. Do the samefor Tony.d. If Alexi devoted half of his time (10 out of 20 hours) tomaking street tacos and half of…Area of original paper 3.1.1 Complete the table above. lal paper change as htandia fokcs oto dsfterent laalves? wa the or th glain your anawer Describe he kind of relationahip between the ares of the original paper and the aumber of folds. 3.1.3 4. Mr Majola owns a shop where he repairs household appliances. He woulid like to buy a cell phone so that he can contact his customers after their work is done. Two different cell phone providers forwarded quotes to him upon request. Cell phone provider SAVE MORE quoted R80 per month and R2,50 per minute. Cell phone provider CASH IN quoted R100,00 per month and R2,00 per minute. Look at the incomplete table below: Airtime in minutes: t 10 20 30 40 50 60 SAVE MORE'S cost in rands: CM 80 105 130 155 Ass 380530 CASH IN'S cost in rands: Ca 120 140 160 240 340 460 100 4.1 What does the table above show? 4.2 Write down the symbol which represents the independent variable. 4.3 Where does the value 80 in row 2 come from? 4.4 Explain the situation if…You are working for the chiefeconomist at Microsoft. Microsoft’s only significantcosts to producing and distributing a new version itit’s operating system is $30,000 in wages to itsemployees, $15,000 in computer testing, and$5,000 in utilities. Microsoft’s marketing department estimates that thedemand a new version it it’s operating system is Q = 320 – 0.5 P, with Pmeasured in dollars.What price should Microsoft charge for a new version it it’s operatingsystem? What profit should Microsoft expect?
- The table below represents the combinations of beet and corn produced on å tract of lahd o given size and fertility Corn (bushels) Beef (kg) 10000 8000 900 6000 1200 4000 1400 2000 1475 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. 6000 bushels of corn and 1300 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 d. 200 bushels of corn and 1475 kg of beef e. 8000 bushels of corn and 1200 kg of beef86) An economy unit of agricutural output raquires 0.L'unit of ag ristural input and agriultural industy and a teatile industry. Each has 9n 0.1 unit of textiles inputs. Each unit of textiles output requires o.1 unit of agricul tural imput and 0:2 unlt of textiles input. a Write the technoligy matrix for this b) If surpluses of S units of agrlualhural products and15 units of texti le s ave desired, final the gois poluchion of each industry econdny. .The manager of the donut shop tells you that hesells donuts for $1 each, and that if he were to makeadditional donuts, based on his current level ofoutput, it would cost him $0.80 per donut. Do yourecommend that the manager increase or decreasethe number of donuts he makes?
- LCD televisions 120- 90- 60- 30- d 20 B 40 60 Plasma televisions C 80 100 OA. 30 LCD televisions that must be forgone to produce 20 additional plasma televisions. OB. 120 LCD televisions that must be forgone to produce 40 additional plasma televisions. OC. 30 LCD televisions that must be forgone to produce 60 additional plasma televisions. D. 90 LCD televisions that must be forgone to produce 20 additional plasma televisions.Give the three reasons that explain why the division of labor increases an economys level of production.Suppose you have a team of two workers: one is a baker and one is a chef. Explain why file kitchen can produce more meals in a given period of time if each worker specializes in what they do best than if each worker tries to do everything from appetizer to dessert.
- Brewed coffee is one of the most popular drinks in the world and a big market in Singapore. In recentyears Singaporean consumers have become concerned that coffee farmers often receive very lowprices by large coffee companies buying their beans and selling them in international markets. Forthis reason, fair trade coffee has reached supermarket shelves and coffee shops. Because producingfair trade coffee includes providing extra income for the farmers, this product is more costly to makethan other coffee types of comparable quality. Using the demand-supply model, analyse this changein consumer preferences. Examine the likely consequences in one or two markets of your choice. Limits 500 wordsCourse dashboard Generally, economies of scope are present when. Lutfen birini seçin. O a joint output is greater from a single firm producing two goods than could be achieved by two different firms each produoing a single product (assuming equivalent production anputs in both situations). O b.egonorues of scale are constant in the joint production of twaproducrs Oc egonomes of scale are present in the preduction of tvo or more coods Od.joint.otputis less from a single firm than could be achieved fomtwedifferent firms SLuations) SONRAKİ SAYFA FAopenvellu mathxl.com/Student/PlayerHomework.aspx?homeworkld=611294898&questionld 1Gmail ITMG 1B Econ 2100 三 Homework: Basics ... Question 10, 1.1 Questio... く onomic If Arif can make 20 pizzas or 10 cakes in one day, the opportunity cost of O A. 1 pizza is half a cake. O B. 2 pizzas is 2 cakes. O C. 2 pizzas is 4 cakes. O D. 1 pizza is 2 cakes. O E. one half a pizza is 2 cakes. st