In order to fix 1 car tire, jerry fixed 3 bicycle tires. In order to fix 1...
- In order to fix 1 car tire, jerry fixed 3 bicycle tires. In order to fix 1 car tire, berry fixes 5 bike tires, who has the comparative advantage
Please answer carefully.
Thank you!
Homework Answers
Answer : Here for Jerry the opportunity cost of 1 car tire is 3 bicycle tires. Whereas for Berry the opportunity cost of 1 car tire is 5 bike tires. As here Jerry has lower opportunity cost than Berry for 1 car tire hence Jerry has the comparative advantage.
Therefore, the answer is "Jerry has comparative advantage".
Add Answer to:
In order to fix 1 car tire, jerry fixed 3 bicycle
tires. In order to fix 1...
The two tires on a bicycle experience wear much like car tires do; repeated contact with...
The two tires on a bicycle experience wear much like car tires do; repeated contact with the road or sidewalk will wear down the raised rubber, giving the tire less traction. A major tire manufacturer has developed a new bicycle tire design they hope will reduce wear. After running several rounds of testing in laboratory conditions, they want to test the tires in real-life biking conditions. They find 20 volunteers who bike on a daily basis. The volunteers are each...
3. Javier runs a shop in which he fixes flat tires; tire repair is a competitive...
3. Javier runs a shop in which he fixes flat tires; tire repair is a competitive industry Repairing tires is the only service that he sells, and he receives $12 for each flat tire he repairs. Javier has fixed costs of $150. His variable costs are 0.05Q2, where Q is the number of flat tires repaired-this means that his marginal costs are 0.1Q (a) Write down Javier's revenue function (b) What is Javier's profit function? (c) How many tires should...
Javier runs a shop in which he fixes flat tires; tire repair is a competitive industry....
Javier runs a shop in which he fixes flat tires; tire repair is a competitive industry. Repairing tires is the only service that he sells, and he receives $12 for each flat tire he repairs. Javier has fixed costs of $150. His variable costs are 0.05Q2, where is the number of flat tires repaired this means that his marginal costs are 0.10. (a) Write down Javier's revenue function. (b) What is Javier's profit function? (c) How many tires should Javier...
A mountain bicycle with 26 inch (0.660 m) diameter tires (mass of 15 kg, mass of...
A mountain bicycle with 26 inch (0.660 m) diameter tires (mass of 15 kg, mass of each tire is 1 kg) has a rider (mass of 100 kg). The rider travels along a flat road with a speed of 10.0 m/s. The road then goes uphill with a slope of 1.4 degrees. If the rider is not pedaling and you ignore friction and air drag, how far up the hill does the rider on the bike go?
43. Nitrogen in Tires A recent campaign was designed to convince car owners that they should...
43. Nitrogen in Tires A recent campaign was designed to convince car owners that they should fill their tires with nitrogen instead of air. At a cost of about $5 per tire, nitro- gen supposedly has the advantage of leaking at a much slower rate than air, so that the ideal tire pressure can be maintained more consistently. Before spending huge sums to advertise the nitrogen, it would be wise to conduct a survey to determine the per- centage of...
Question 16 (2 points) 16. Suppose that a bicycle manufacturer, Klec, has decided to order tires...
Question 16 (2 points) 16. Suppose that a bicycle manufacturer, Klec, has decided to order tires from a tire supplier for next year. Klec needs to determine how many tires should be ordered for each shipment next year. Total demand for tires (D) is 10,000. Ordering cost for each shipment (A) is 1,000. Inventory holding cost for each unit (h) is 5. Suppose that Klec uses the basic EOQ model. Which of the following is true? a) Q' is 2,000...
1. The Square Wheel Tire Company has determined that their tires must average 36 inches in...
1. The Square Wheel Tire Company has determined that their tires must average 36 inches in diameter in order to fit most car models. A random sample of 100 tires revealed a mean of 36.4 inches with a standard deviation of 2.1 inches. Do you think management has anything to worry about? Use Alpha = 0.05. Would you help me understand how to use this on Minitab?
We will be exploring the following road/weather/tire conditions: Dry Road / New Tires Dry Road /...
We will be exploring the following road/weather/tire conditions: Dry Road / New Tires Dry Road / Old Tires Raining / New Tires Ice / Average Tires We will be keeping the mass of the car fixed at 1000kg and changing the initial speed of the car. Our goal is to see how the braking or stopping distance of the car depends on the initial speed and on the road/weather/tire conditions. a) Rank the road/weather/tire conditions in the order of smallest...
Question 3 (1 point) Fill in the blank. Speed Car Rental company found that the tire...
Question 3 (1 point) Fill in the blank. Speed Car Rental company found that the tire lifetime for their vehicles has a mean of 49,038.99 miles and standard deviation of 5,415.52 miles. In a sample of 69 tires tested, there is a 78% chance that the average tire lifetime is less than ________ miles. Question 3 options: 1) 44,857.16 2) There is not enough information to determine this. 3) 53,220.82 4) 49,542.42 5) 48,535.56
The mileage that car owners get with a certain kind of radial tire is normally distributed...
The mileage that car owners get with a certain kind of radial tire is normally distributed with a mean of 70,000 miles. If 97.725% of these tires lasted less than 78,000 miles, please calculate the standard deviation for the tire mileage. [Note: Please round your result for the standard deviation to the nearest integer.] [2 points] What is the probability a randomly selected tire of this type will last 65,000 miles? Please justify your answer. [1 point] Calculate the probability...
3. Javier runs a shop in which he fixes flat tires; tire repair is a competitive industry Repairing tires is the only service that he sells, and he receives $12 for each flat tire he repairs. Javier has fixed costs of $150. His variable costs are 0.05Q2, where Q is the number of flat tires repaired-this means that his marginal costs are 0.1Q (a) Write down Javier's revenue function (b) What is Javier's profit function? (c) How many tires should...
Javier runs a shop in which he fixes flat tires; tire repair is a competitive industry. Repairing tires is the only service that he sells, and he receives $12 for each flat tire he repairs. Javier has fixed costs of $150. His variable costs are 0.05Q2, where is the number of flat tires repaired this means that his marginal costs are 0.10. (a) Write down Javier's revenue function. (b) What is Javier's profit function? (c) How many tires should Javier...
43. Nitrogen in Tires A recent campaign was designed to convince car owners that they should fill their tires with nitrogen instead of air. At a cost of about $5 per tire, nitro- gen supposedly has the advantage of leaking at a much slower rate than air, so that the ideal tire pressure can be maintained more consistently. Before spending huge sums to advertise the nitrogen, it would be wise to conduct a survey to determine the per- centage of...
Question 16 (2 points) 16. Suppose that a bicycle manufacturer, Klec, has decided to order tires from a tire supplier for next year. Klec needs to determine how many tires should be ordered for each shipment next year. Total demand for tires (D) is 10,000. Ordering cost for each shipment (A) is 1,000. Inventory holding cost for each unit (h) is 5. Suppose that Klec uses the basic EOQ model. Which of the following is true? a) Q' is 2,000...
Most questions answered within 3 hours.
-
A hockey puck (1) of mass 160 g is shot east at a speed of 6.60...
asked 3 minutes ago -
Segregation of duties reduces the opportunities for a person to
be in a position to do...
asked 14 seconds ago -
Can an organism use both oxidative phosphorylation and substrate
level phosphorylation? If so, what are some...
asked 3 minutes ago -
The masses and coordinates of three spheres are as follows:
12 kg, x = 0.50 m,...
asked 5 minutes ago -
Problem 1: A cell generates a traction force of 2×〖10〗^4
μ"dynes" and travels at a speed...
asked 10 minutes ago -
A soda dispenser can be adjusted to deliver any fixed number of
ounces of soft drink....
asked 18 minutes ago -
How can a company with future income of 152 billion but 4.5
billion in debt overcome...
asked 24 minutes ago -
Ryman Healthcare stock is trading at $13. Every six months, they
pay a 15 cent dividend....
asked 27 minutes ago -
Suppose the total time to fill a routine prescription at a local
pharmacy is 35 minutes...
asked 33 minutes ago -
Describe the Major provisions of the Stark 1 and 2 laws and safe
harbor regulations.
asked 40 minutes ago -
Jefferson Labs, a taxpaying entity, estimates that it can save
$29,000 a year in cash operating...
asked 52 minutes ago -
Please Discuss:
1.The hepatic pathway/process of how cirrhosis and ascites
occur.
2.List 3 other common ethiologues...
asked 1 hour ago