Homework Answers
Option C. Opportunity cost
Since Kendrick is watching TV instead of going to the gym, thus, there is loss of going to the gym over watching TV, thus, if Kendrick watches TV instead of going to the gym, the opportunity cost is the missed workout.
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Question 16 1 pts If Kendrick decides to watch t.v. instead of go to the gym,...
Question 10 2 pts Economies of scale exist when: opportunity costs go to zero the average...
Question 10 2 pts Economies of scale exist when: opportunity costs go to zero the average total costs decrease as output increases the average total costs increase as output increases average fixed cost increase as output increases
Question 12 2 pts Suppose you pay $10 to watch a movie at the local Cineplex...
Question 12 2 pts Suppose you pay $10 to watch a movie at the local Cineplex and afterward you sneak into the next theater to watch a second movie without paying. What is your marginal cost of watching the second movie? $15 $5 $10 $0 Below shows cost and revenue curves for a competitive firm named Eli's Eggplants. Use the graph to answer the questions that follow. 20 2 18 16 14 12 10 Price cost of bushel) 8 2...
Question 16 (1 point) Citizen sells a watch for $35 at a variable cost of $15...
Question 16 (1 point) Citizen sells a watch for $35 at a variable cost of $15 per unit and fixed cost of $1 million per annum. Recent recession has seen jump in material cost by $7. What is the change in profit due to recession if Citizen produces and sells 100 000 watches in a year? OA) $1 800 000 increase B) $300 000 decrease OC) $800 000 increase OD) $1 000 000 decrease O E) $700 000 decrease
Question 10 2 pts Sam can go on a walk with his wife (which he values...
Question 10 2 pts Sam can go on a walk with his wife (which he values at $100), play video games (which he values at $80), study for Econometrics (which he values at $15), or go skiing (which he values at $35). What is Sam's opportunity cost if he goes on a walk with his wife?
Question 3: After winning the lottery, Australian Artie decides to retire, stay home, and watch sports...
Question 3: After winning the lottery, Australian Artie decides to retire, stay home, and watch sports on television all day. Artie likes both Rugby, R, and Aussie Rules Football, F and views them as imperfect substitutes. In particular, Artie's preferences can be represented by the follow- ing utility function: u = R04Fs. Since Artie is rich, the only cost of watching F is the opportunity cost of not watching R: one hour of R necessarily means one hour less of...
Question 3: After winning the lottery, Australian Artie decides to retire, stay home, and watch sports...
Question 3: After winning the lottery, Australian Artie decides to retire, stay home, and watch sports on television all day. Artie likes both Rugby, R, and Aussie Rules Football, F and views them as imperfect substitutes. In particular, Artie’s preferences can be represented by the following utility function: U = R 0.4F 0.6. Since Artie is rich, the only cost of watching F is the opportunity cost of not watching R: one hour of R necessarily means one hour less...
15-16 please! Question 15 1 pts One criticism of Kohlberg's theory of moral development is that...
15-16 please!
Question 15 1 pts One criticism of Kohlberg's theory of moral development is that especially the later stages may not be universal but reflect cultural factors. True False Question 16 1 pts Universally, all adolescents go through the four identity statuses in the following fixed order: diffusion, foreclosure, moratorium, achievement. True False
1. (15 pts) One of your friends states that to protect his mental and physical health he has to work out but also has to go out with his friends. His gym routine lasts about 2 hours and if he goes o...
1. (15 pts) One of your friends states that to protect his mental and physical health he has to work out but also has to go out with his friends. His gym routine lasts about 2 hours and if he goes out with his friends that lasts for 5 hours. Your friend is also a math geek and tells you that his satisfaction from both of these activities can be modeled by where g is the number of times he...
This attempt took Question 1 1/1 pts Questions 1 to 5 refer to the following. Mankiw,...
This attempt took Question 1 1/1 pts Questions 1 to 5 refer to the following. Mankiw, page 264, question 2. Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per year to rent the location and buy the stock. In addition, she would have to quit her $50,000 per year job as an accountant. Define opportunity cost. What we give up to obtain an item or engage in an activity What we get...
Thermodynamics two part question Question 15 1 pts Problems 15 and 16 are based on the...
Thermodynamics
two part question
Question 15 1 pts Problems 15 and 16 are based on the following description A household refrigerator runs 20 minutes in every hour and removes heat from the food compartment during this running time at a rate of 1200 kJ/h. The COP of the refrigerator is 2.1. The power the refrigerator draws when running in kW is closer to: O 0.16 O 0.23 O 0.66 O 0.82 O 0.08 0.27 21 O 11 Question 16 1...
Question 10 2 pts Economies of scale exist when: opportunity costs go to zero the average total costs decrease as output increases the average total costs increase as output increases average fixed cost increase as output increases
Question 12 2 pts Suppose you pay $10 to watch a movie at the local Cineplex and afterward you sneak into the next theater to watch a second movie without paying. What is your marginal cost of watching the second movie? $15 $5 $10 $0 Below shows cost and revenue curves for a competitive firm named Eli's Eggplants. Use the graph to answer the questions that follow. 20 2 18 16 14 12 10 Price cost of bushel) 8 2...
Question 16 (1 point) Citizen sells a watch for $35 at a variable cost of $15 per unit and fixed cost of $1 million per annum. Recent recession has seen jump in material cost by $7. What is the change in profit due to recession if Citizen produces and sells 100 000 watches in a year? OA) $1 800 000 increase B) $300 000 decrease OC) $800 000 increase OD) $1 000 000 decrease O E) $700 000 decrease
Question 10 2 pts Sam can go on a walk with his wife (which he values at $100), play video games (which he values at $80), study for Econometrics (which he values at $15), or go skiing (which he values at $35). What is Sam's opportunity cost if he goes on a walk with his wife?
Question 3: After winning the lottery, Australian Artie decides to retire, stay home, and watch sports on television all day. Artie likes both Rugby, R, and Aussie Rules Football, F and views them as imperfect substitutes. In particular, Artie's preferences can be represented by the follow- ing utility function: u = R04Fs. Since Artie is rich, the only cost of watching F is the opportunity cost of not watching R: one hour of R necessarily means one hour less of...
15-16 please!
Question 15 1 pts One criticism of Kohlberg's theory of moral development is that especially the later stages may not be universal but reflect cultural factors. True False Question 16 1 pts Universally, all adolescents go through the four identity statuses in the following fixed order: diffusion, foreclosure, moratorium, achievement. True False
1. (15 pts) One of your friends states that to protect his mental and physical health he has to work out but also has to go out with his friends. His gym routine lasts about 2 hours and if he goes out with his friends that lasts for 5 hours. Your friend is also a math geek and tells you that his satisfaction from both of these activities can be modeled by where g is the number of times he...
This attempt took Question 1 1/1 pts Questions 1 to 5 refer to the following. Mankiw, page 264, question 2. Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per year to rent the location and buy the stock. In addition, she would have to quit her $50,000 per year job as an accountant. Define opportunity cost. What we give up to obtain an item or engage in an activity What we get...
Thermodynamics
two part question
Question 15 1 pts Problems 15 and 16 are based on the following description A household refrigerator runs 20 minutes in every hour and removes heat from the food compartment during this running time at a rate of 1200 kJ/h. The COP of the refrigerator is 2.1. The power the refrigerator draws when running in kW is closer to: O 0.16 O 0.23 O 0.66 O 0.82 O 0.08 0.27 21 O 11 Question 16 1...
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