Homework Answers
Ans. A. 1/2 pound of clothing and 2 pounds of food - This is the opportunity cost of 1 pound of food and 1 pound of clothing.
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sekreases Question 13 1 pts Jedi's productie penis Jare production positie Gothing posunda In the table...
Normal No Spacing Heading 1 Heading 2 Title Jack's production possibilities Jills production possibilities Producti...
Normal No Spacing Heading 1 Heading 2 Title Jack's production possibilities Jills production possibilities Production food Clothing Production Food Clothing point pounds) pounds! point (pounds) pounds) 24 and 45 and 16 and 30 and and 15 and and his opportunity cost 7) in the table above, Jack's opportunity cost for 1 pound of food is for 1 pound of dothing is A) 1 pound of clothing: 4 pounds of food B) 1/2 of a pound of clothing: 2 pounds of...
Question 17 1 pts On a production possibilities frontier, 500 pounds of apples and 1,200 pounds...
Question 17 1 pts On a production possibilities frontier, 500 pounds of apples and 1,200 pounds of bananas can be produced while at another point on the same frontier, 300 pounds of apples and 1,300 pounds of bananas can be produced. Between these points, what is the opportunity cost of producing a pound of bananas? 2 pounds of apples 2 pounds of bananas 200 pounds of apples 0.5 a pound of apples 1 pts Question 18
Ob 23 NE ww Marked out of 00 Gestion Production Possibility Related Question Use following Table...
Ob 23 NE ww Marked out of 00 Gestion Production Possibility Related Question Use following Table to answer to following questions. Table shows possible productions ot to goods: Food and Clothing, using all wailable resources Table 1 Different combinations of Productions of Food and Clothing item B e D E Food Milos) 0 5 9 12 14 Clothing (maten 40 30 20 10 0 What is the opportunity cost of producing 14 units of food in terms of clothing? b....
14) Use the following table to answer the question below. Jane's Production Possibility Schedule Pounds of...
14) Use the following table to answer the question below. Jane's Production Possibility Schedule Pounds of Green Beans Pounds of Corn 0 80 20 60 4040 60 20 80 0 1 pound(s) of corn. Jane's opportunity cost of producing 1 pound of green beans is A)4 B) 2 C)1 D) 1/2
Use the following table to answer the question below. Dave's Production Possibilities Schedule Pounds of Green...
Use the following table to answer the question below. Dave's Production Possibilities Schedule Pounds of Green Beans Pounds of Corn 160 20 120 40 80 60 40 80 Simon's Production Possibilities Schedule Pounds of Green Beans Pounds of Corn 80 40 60 89 40 120 20 160 @ Dave's opportunity cost of producing 1 pound of corn is pound(s) of green beans. pound(s) of green beans. Simon's opportunity cost of producing 1 pound of com is Multiple Choice 1,2 2.12...
ECON 2303 HW I SP 20 A production possibilities table for bananas and apples is shown...
ECON 2303 HW I SP 20 A production possibilities table for bananas and apples is shown below. Type of Production Bananas (in pounds) Apples (in pounds) A 0 100 Production Alternatives B C D 20 40 60 75 50 25 E 80 0 a. Show these data graphically. Instructions: Use the tool provided PPC to draw a PPC curve (plot 5 points total). Apples (in pounds) 0 80 100 20 40 60 Bananas (in pounds) b. Does the economy above...
1. Use the following table to answer the question. Dave's Production Possibility Schedule Simon's Production Possibility...
1. Use the following table to answer the question. Dave's Production Possibility Schedule Simon's Production Possibility Schedule Pounds of Green Beans Pounds of Corn Pounds of Green Beans Pounds of Corn 0 160 0 80 20 120 40 60 40 80 80 40 60 40 120 20 80 0 160 0 Assume Dave consumes 40 pounds of green beans and 80 pounds of corn without trade. Also, assume that Simon consumes 80 pounds of green beans and 40 pounds of...
1. Comparative Advantage (5 points) The following chart represents the production capabilities of the US and...
1. Comparative Advantage (5 points) The following chart represents the production capabilities of the US and Japan:. Output per worker-day Country Food Clothing US 2 1 Japan 3 9 a) Which country has an absolute advantage in food production? In clothing? Why? b) What is the US opportunity cost of producing food? Of clothing? Why? c) What is Japan's opportunity cost of producing food? Of clothing? Why? d) Which country has a comparative advantage in producing food? Why? e) Which...
Question 6 S L 1 pts Table 13-5 Number of Output Workers 0 0 1 1 ,000 2 2 ,000 S32,700 4 3 ,200 5 3 ,500 6 3 ,600...
Question 6 S L 1 pts Table 13-5 Number of Output Workers 0 0 1 1 ,000 2 2 ,000 S32,700 4 3 ,200 5 3 ,500 6 3 ,600 Refer to Table 13-5. Assume that fixed costs are $500, and variable costs are $100 per worker. For this firm, what are the shapes of the production function and the total cost curve? The production function is increasing at a decreasing rate, whereas the total cost function is increasing at...
34 pounds of fruit. Question 12 1 pts Consider a production possibility frontier with jeans on...
34 pounds of fruit. Question 12 1 pts Consider a production possibility frontier with jeans on the vertical axis and shoes on the horizontal axis. As a country moves along the frontier closer to the vertical axis, the opportunity cost of producing jeans increases. c) the opportunity cost of producing shoes increases. there are fewer tradeoffs. the opportunity cost of producing jeans decreases.
Normal No Spacing Heading 1 Heading 2 Title Jack's production possibilities Jills production possibilities Production food Clothing Production Food Clothing point pounds) pounds! point (pounds) pounds) 24 and 45 and 16 and 30 and and 15 and and his opportunity cost 7) in the table above, Jack's opportunity cost for 1 pound of food is for 1 pound of dothing is A) 1 pound of clothing: 4 pounds of food B) 1/2 of a pound of clothing: 2 pounds of...
Question 17 1 pts On a production possibilities frontier, 500 pounds of apples and 1,200 pounds of bananas can be produced while at another point on the same frontier, 300 pounds of apples and 1,300 pounds of bananas can be produced. Between these points, what is the opportunity cost of producing a pound of bananas? 2 pounds of apples 2 pounds of bananas 200 pounds of apples 0.5 a pound of apples 1 pts Question 18
Ob 23 NE ww Marked out of 00 Gestion Production Possibility Related Question Use following Table to answer to following questions. Table shows possible productions ot to goods: Food and Clothing, using all wailable resources Table 1 Different combinations of Productions of Food and Clothing item B e D E Food Milos) 0 5 9 12 14 Clothing (maten 40 30 20 10 0 What is the opportunity cost of producing 14 units of food in terms of clothing? b....
14) Use the following table to answer the question below. Jane's Production Possibility Schedule Pounds of Green Beans Pounds of Corn 0 80 20 60 4040 60 20 80 0 1 pound(s) of corn. Jane's opportunity cost of producing 1 pound of green beans is A)4 B) 2 C)1 D) 1/2
Use the following table to answer the question below. Dave's Production Possibilities Schedule Pounds of Green Beans Pounds of Corn 160 20 120 40 80 60 40 80 Simon's Production Possibilities Schedule Pounds of Green Beans Pounds of Corn 80 40 60 89 40 120 20 160 @ Dave's opportunity cost of producing 1 pound of corn is pound(s) of green beans. pound(s) of green beans. Simon's opportunity cost of producing 1 pound of com is Multiple Choice 1,2 2.12...
ECON 2303 HW I SP 20 A production possibilities table for bananas and apples is shown below. Type of Production Bananas (in pounds) Apples (in pounds) A 0 100 Production Alternatives B C D 20 40 60 75 50 25 E 80 0 a. Show these data graphically. Instructions: Use the tool provided PPC to draw a PPC curve (plot 5 points total). Apples (in pounds) 0 80 100 20 40 60 Bananas (in pounds) b. Does the economy above...
Question 6 S L 1 pts Table 13-5 Number of Output Workers 0 0 1 1 ,000 2 2 ,000 S32,700 4 3 ,200 5 3 ,500 6 3 ,600 Refer to Table 13-5. Assume that fixed costs are $500, and variable costs are $100 per worker. For this firm, what are the shapes of the production function and the total cost curve? The production function is increasing at a decreasing rate, whereas the total cost function is increasing at...
34 pounds of fruit. Question 12 1 pts Consider a production possibility frontier with jeans on the vertical axis and shoes on the horizontal axis. As a country moves along the frontier closer to the vertical axis, the opportunity cost of producing jeans increases. c) the opportunity cost of producing shoes increases. there are fewer tradeoffs. the opportunity cost of producing jeans decreases.
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