week 3 discussion copy

A ng.cengage.com * Mind Tap - Cengage Learning Q Search this course * CENGAGE MINDTAP Homework (Ch 03) 1. Specialization and production possibilities Suppose Spain produces only tablets and smartphones. The resources that are used in the production of these two goods are not specialized-that is, dy Tools the same set of resources is equally useful in producing both smartphones and tablets. The shape of Spain's production possibilities frontier (PPF) should reflect the fact that as Spain produces more smartphones and fewer tablets, the opportunity cost of producing each additional smartphone Tips The following graphs show two possible PPFS for Spain's economy: a straight-line PPF (PPF1) and a bowed-out PPF (PPF2). Tips (? a FREE 7- Unlimited imited Graph 2 Graph 1 PPF, re PPF, SMARTPHONES SMARTPHONES Based on the previous description, the trade-off Spain faces between producing smartphones and tablets is best represented by Grade It Now Save & Continue Continue without saving MacВok Pro…

Inventory Control and Planning Lehen Vinters imports a certain brand of beer. The demand, which may be assumed to be uniform, is 1,250,000 cases/year. The cost of ordering a shipment of beer is $500, and the cost of storing each case of beer for a year is $2. Determine how many cases of beer should be in each shipment if the ordering and storage costs are to be kept at a minimum. (Assume that each shipment of beer arrives just as the previous one has been sold.)