10:55All iCloudDecember 2, 2019 at 10:55 AMA village has five residents, each of whom hasan accumulated savings of $50. Each villagercan use the money to buy a government bondthat pays 10% interest per year or to buy ayear-old goat, send it onto the commons tograze, and sell it after one year. The price ofthe goat that the villager will get at the end ofthe year depends on the amount of weight itgains while grazing on the commons, which inturn depends on the number of goats sentonto the commons, as shown in table below.Assume that if a villager is indifferent betweenbuying a bond and buying a goat, the villagerwill buy a goat.Number of goatsIncome per goat($vearPrice per 2-yearold goat (S)on the commons80301275253702065155555What will be the total village income if eachvillager decides how to invest based on his orher individual self-interest?

The total village income, if each villager decides to how to invest based on their self-interest, is…

Answered: 10:55 All iCloud December 2, 2019 at…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Mary is a corn farmer in Iowa. If she does not irrigate her field, she can produce 120 bushels of corn per acre. If she applies 4 inches of irrigation water, she can produce 140 bushels of corn per acre. The application of 8, 12, and 16 inches of irrigation water can result in 160, 180, and 200 bushels of corn per acre, respectively. Graph the relationship between the amount of water applied and corn yield for Mary. What is the slope?
Incorrect Question 9 The ability of forests to reduce soil erosion is an example of what type of economic value? Ecosystem service value Intrinsic value O Nonuse value Contingent value Revealed value
Note: don't use chat gpt.
6
Antonio and Caroline are farmers. Each one owns a 20-acre plot of land. The following table shows the amount of alfalfa and barley each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing alfalfa or barley or to produce alfalfa on some of the land and barley on the rest. Alfalfa Barley (Bushels per acre) (Bushels per acre) Antonio 40 8 Caroline 28 7 ___________has an absolute advantage in the production of alfalfa, and __________ has an absolute advantage in the production of barley. Antonio's opportunity cost of producing 1 bushel of barley is ____ bushels of alfalfa, whereas Caroline's opportunity cost of producing 1 bushel of barley is______ bushels of alfalfa. Because Antonio has a ______ opportunity cost of producing barley than Caroline,________ has a comparative advantage in the production of barley and_______ has a comparative advantage in the production of alfalfa.
Question 7 A project involves an immediate expenditure of $2 000, and will require additional expenditures of $150 a year for the next ten years, starting one year from now. After ten years it yields an income of $8 000, but a year later a further expenditure of $1 000 will be required to close down the project. What is its rate of return? 9% 10% 11% 12% 13% Save
Mary is a corn farmer in Iowa. If she does not irrigate his field, she can produce 120 bushels of corn per acre. If she applies 4 inches of irrigation water, she can produce 140 bushels of corn per acre. The application of 8, 12, and 16 inches of irrigation water can result in 160, 180, and 200 bushels of corn per acre, respectively. Graph the relationship between the amount of water applied and corn yield for Mary (Assume a straight-line relationship). Find and interpret the slope and Y intercept
6. A few months later, Mary is sick again but decides that she cannot afford to go to the doctor this time. Unfortunately, her condition worsens. She is hospitalized for two days and misses eight days of work. Her hospital stay, including medications, costs $2,500. How much does this hospital visit cost Mary (including deductible, co-pay, her 20% share of the cost, and missed work days)?
Pleas help with parts D and E
Dr. Smith, a new professor, makes $85,000 his first year. He is guaranteed 7 years of employment at the university. Each year his salary increases at a rate of 8 percent. The interest rate is 5 percent. Show Dr. Smith’s discounted stream of earnings over this seven- year period and use these figures to calculate the present value.

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