1. Slovenia has 48 labor hours available and produces 2 goods, pipe cleaners and glitter. It takes 12 labor hours to make 1 ton of glitter and 4 labor hours to make 1 barrel of pipe cleaners. Which bundle of goods can Slovenia produce efficiently? a. 4 tons of glitter and 1 barrel of pipe cleaners b. 2 tons of glitter and 6 barrels of pipe cleaners c. I ton of glitter and 5 barrels of pipe cleaners d. 2 tons of glitter and 4 barrels of pipe cleaners

1. Slovenia has 48 labor hours available and produces 2 goods, pipe cleaners and glitter. It takes 12 labor hours to make 1 ton of glitter and 4 labor hours to make 1 barrel of pipe cleaners. Which bundle of goods can Slovenia produce efficiently? a. 4 tons of glitter and 1 barrel of pipe cleaners b. 2 tons of glitter and 6 barrels of pipe cleaners c. I ton of glitter and 5 barrels of pipe cleaners d. 2 tons of glitter and 4 barrels of pipe cleaners

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

The following are guidelines for recognizing your employees that help you to achieve your organization' goals and objectives. discuss each one of these point. • Do not limit recognition to high- visibility jobs. • Do not limit recognition to a few best performers.
Make several lists of things out there in the world that you are interested in...or passionate about…or enraged by or fascinated by…or overwhelmed by…or in love with
What elements of happiness do wealth and productivity miss? What elements of happiness do they measure?
Sam quit his job and started his own business. He made a $100,000 salary at his old job. The company paid $10,000 a year for his family's health insurance premium and paid him $5,000 in profit sharing in the year. He owns some commercial property that he used to rent out and make $20,000 a year. Now he uses that property for his new business. With his new business, in his first year, he paid his production workers $125,000. He paid a salesperson $60,000 in commissions. His gas and utilities came to $12,000. He put in $50,000 of his own money that he could have made 2% a year in the bank. He also spent $14,000 in advertising and $20,000 for a business consultant. In his first year as a business owner, Sam made $300,000 in sales. 1. What are his explicit costs? Be sure to list out all of the explicit costs so that I can give partial credit if need be. 2. What are his implicit costs? Be sure to list out all of the explicit costs so that I can give partial credit if need be. 3. What is his…
Q50