A production possibilities table for DVDS and computers is shown below. Production Alternatives B Type of Production Computers DVDS A D E 20 68 40 53 60 80 80 30 Instructions: Enter your answers as a whole number. a. What is the opportunity cost of computers when moving from point A to point B? DVDS b. What is the opportunity cost of computers when moving from point B to point C? DVDS

A production possibilities table for DVDS and computers is shown below. Production Alternatives B Type of Production Computers DVDS A D E 20 68 40 53 60 80 80 30 Instructions: Enter your answers as a whole number. a. What is the opportunity cost of computers when moving from point A to point B? DVDS b. What is the opportunity cost of computers when moving from point B to point C? DVDS

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Description: A production possibilities table for DVDS and computers is shown below.Production AlternativesType of ProductionABDEComputers20406080DVDS80685330Instructions: Enter your answers as a whole number.a. What is the opportunity cost of computers when mov

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Questions 8-9
Define Production Possibility Frontier. Draw a production possibilities frontier showing increasing opportunity cost for sausages and. kebabs a. On a graph, identify the area of feasible outcomes and the area of infeasible outcomes. b. On a graph, illustrate the effect of the discovery of an oven, a resource needed to make both sausages and kebabs, on this economy. c. On a second graph, illustrate the effect of a new computerized assembly line in the production of sausages on this economy.
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A production possibility frontier corn. The farmer can grow 80 bushels of soybeans or 160 bushels of corn on each acre of land. The price of soybeans is $13.20 per bushel. The price of corn is $5.85 per bushel. A farmer can grow soybeans or What is the opportunity cost (in dollars) per acre to grow soybeans? Corn? Which crop (pick only one) do you think the farmer will produce? Why?
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QUESTION 7 Olivia and Susan operate a store that sells burritos. There are two main activities: chopping up the ingredients and then cooking the fillings for the burritos. Olivia and Susan are deciding who should chop the ingredients and who should cook the fillings in order to maximise output. Olivia Susan Chopped Food (kg/hr) 15 20 Cooked Food (kg/hr) 20 30 Which of the following statements are true: For Olivia, the opportunity cost of 1kg of cooked food is 1.33kgs (to 2 decimal places) of choppectood. For Susan, the opportunity cost of 1kg of cooked food is 0.67kgs (to 2 decimal places) of chopped food. Susan should specialise in chopping. Olivia has an absolute advantage in chopping.
planning to spend Saturday working at your part time job, but a friend asks you to go skiing. 3. You are What is the cost of going skiing in this case? a 1 Now suppose you have been planning to spend the whole day studying in the library. What is the b. cost of going skiing in this case? If he has absolutely nothing to do at home, what is the cost of going skiing? c.
A B C D E F Production Options Output of Output of Trucks per Day Tanks per Day 0 2.0 5 4 3 2 1 0 3.0 3.8 4.5 5.0 Output of Trucks (per day) 5 A A 0 0 1 B What is the opportunity cost of the first truck produced? Instructions: Enter your response rounded to one decimal place. tank(s). 2 3 4 E Output of Tanks (per day) F 5 6
You have a job interview at 10:00am, for a high-paying position you are really excited about. At the same time, you could take a pleasant bike ride across campus, for free. Why wouldn't most people take the bike ride? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a The opportunity cost of the ride is too high. b The fixed cost of the ride is too high. c The sunk cost of the ride is too high. d The monetary cost of the ride is too high.
Questions for Review 4. Define scarcity . 5. Generally economists divide resources into four broad categories explain . 6. What is competition ? And what form it takes ? 7. What is opportunity cost ? 8. Define marginal costs & Marginal benefits . 9. Compare between Macroeconomics & Macroeconomics 10. Micro economists & macro economists ask different questions . Explain ?