13. Answer: Dave, Jack and Matt have a business where they mow lawns and wash cars. Each works 8 hours a day. In one hour, Dave can either mow 1 lawn or wash 2 cars , Jack can either mow 1 lawn or wash 1 car, and Matt can either mow 2 lawns or wash 1 car.
If they need to mow a total of 16 lawns per day then they can wash at most 24 cars. If they instead need to mow a total of 22 lawns per day then can wash at most 18 cars.
14. Answer: Wages for a particular occupation have increased over the past few years. The best explanation for this observation is - there has been an increase in the number of people retiring from this occupation.
Based on the information given has an Mary absolute advantage in baking pie and Mary has a comparative advantage in baking pie
D Question 13 1.67 pts Dave, Jack, and Matt have a business where they mow lawns...
Dave, Jack, and Matt have a business where they mow lawns and wash cars. Each works 8 hours a day. In one hour, Dave can either mow 1 lawn or wash 2 cars; Jack can either mow 1 lawn or wash 1 car; and Matt can either mow 2 lawns or wash 1 car. If they need to mow a total of 16 lawns per day then they can wash at most cars. If they instead need to mow a...
Dave, Jack, and Matt have a business where they mow lawns and wash cars. Each works 8 hours a day. In one hour, Dave can either mow 1 lawn or wash 2 cars; Jack can either mow 1 lawn or wash 1 car; and Matt can either mow 2 lawns or wash 1 car. If they need to mow a total of 16 lawns per day then they can wash at most cars. If they instead need to mow a...
Question 10 1.67 pts If the interest rate in the loanable funds market is currently below the equilibrium level, then the quantity of funds demanded is the quantity of funds supplied, and we can expect the interest rate to over time. O greater than increase O less than increase O greater than: decrease less than: decrease « Previous Next > Identify the contribution to this year's GDP by entering a numerical value. Do not enter dollar signs or commas. Joe...
Assume you have a lawn mowing business. You currently charge $15/lawn and can mow 5 lawns in an 8 hour day. You have more people asking for your service, but you cannot service them with your current resources. You can hire an assistant for $8/hour or you can rent a riding lawn mower (that will allow you to mow 7 lawns a day) for $100/week plus $25 for gas. You believe you can add 25 more customers. You only work...