4. A movement from point C to D indicates that the opportunity cost of increasing the production of 10 18 24 28 30 Mobile phones (1 000s) a) Mobile phones by 6 000 is 1 000 laptops b) Laptops by 1 000 is 6 000 mobile phones c) Mobile phones by 1 000 is 6 000 laptops d) Mobile phones by 1 000 is 1 000 laptops Laptops (1 000s)

4. A movement from point C to D indicates that the opportunity cost of increasing the production of 10 18 24 28 30 Mobile phones (1 000s) a) Mobile phones by 6 000 is 1 000 laptops b) Laptops by 1 000 is 6 000 mobile phones c) Mobile phones by 1 000 is 6 000 laptops d) Mobile phones by 1 000 is 1 000 laptops Laptops (1 000s)

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

#3
8. Productive and allocative efficiency A clothing company can use one of the following four production processes to produce 5,000 garments per month. Which production process is the most productively efficient? One that involves 30 workers and 50 machines One that involves 20 workers and 20 machines One that involves 20 workers and 50 machines One that involves 30 workers and 20 machines
A computer store sells WP and SS. Given below are themaximum amounts two consumers will pay for these goods and for a bundle that contains bothgoods. WP SS Bundle carolina $100 $90 $190 shawn $90 $40 $130 (a) What is the firm’s revenue if it sells the WP at a price of $90 and the SSat a price of $90? The goods are only available individually and not as a bundle. Please showyour calculations.(b) Will the firm charge $130 or $190 for the bundle if it wants to earn maximum revenue?Assume that the goods are only sold as a bundle and not available separately. Please explain.(c) Will selling individually or selling a bundle result in higher revenues?
I cant seem to remeber the formula to use to fill out S2 and D2
Sh 11 Economics
#40
5. A decision at the margin Suppose that Darnell is a diligent hard-working second-year college student. One Wednesday, he decides to start the day by working through 300 practice problems to study for the econometrics class. Using a table to track his progress throughout the day, he notices that as the hours pass, it takes him longer to solve the problems. Time Total Problems Solved 7:00 AM 0 8:00 AM 120 9:00 AM 210 10:00 AM 270 11:00 AM 300 Use the table to answer the following questions. The marginal, or additional, gain from Riley's second hour spent working, from 8:00 AM to 9:00 AM, is problems. The marginal gain from Riley's fourth hour spent working, from 10:00 AM to 11:00 AM, is problems. The following week, Riley's econometrics faculty advisor gives her some advice. In all their years of teaching they claim to observe that working on 105 multiple choice questions boosts a student's test score by about the same amount as spending an hour reviewing lecture notes. For simplicity,…
I have attached my question as an image. Thank you.
5.. Alternative ways of making 100 shirts a day are in the table below: Method Labor (hours) Capital (machines) A 10 50 в 20 40 50 20 D 100 10 a. Which methods are technologically efficient? b. Which method is economically efficient if: (i) The wage rate is $1 an hour and the rental cost of a machine is $100 an hour? (ii) The wage rate is $5 an hour and the rental cost of a machine is $50 an hour? (iii) The wage rate is $50 an hour and the rental cost of a machine is $5 an hour?
Claire and Don are farmers who produce beef and com. In a year, Claire can produce 40 tons of beef or 200 bushels of corn. In a year, Don can produce 20 tons of beef or 120 bushels of corn.. To maximize their total output of beef and corn A. Claire and Don each spend half of their time producing beef and the other half producing corn B. Don produces beef and corn while Claire produces nothing C. Claire produces beef and Don produces corn OD. Don produces beef and Claire produces com
Inefficient production is represented by which point(s)?
Which of points A–E is the most efficient? Explain.