None Ah-Hong realizes that he can't finish preparing for both Economics and Accounting before the midterm. After evaluating, he concludes that if he spends all his time on Economics, he can score 90points, but get 0 in Accounting. Conversely, if he spends all his time on Accounting, he can score 85 points, but get 0 in Economics.(a) Plot the production possibility frontier (PPF) with Economics score on the horizontal axis and Accounting score on the vertical axis.(b) Using the concept of opportunity cost, explain the significance of the PPF being concave towards the upper right.(c) Now assume the PPF is a straight line. What is the opportunity cost of increasing the Economics score by 1 point?

Here is the Production Possibility Frontier (PPF) curve for Ah-Hong's scores in Economics and…

Answered: Ah-Hong realizes that he can't finish…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Kip is trying to decide whether to take a one-day martial arts class at Rex Kwan Do. The fee for the class is $400. Kip will also have to pay his brother Napoleon $150 for that day in return for giving him a ride into town. Instead of taking the class, Kip could spend all day on the computer chatting with his girl, LaFawnduh. This gives him a value of $300. On the other hand, he could spend all day working with his Uncle Rico and making sweet moolah. Uncle Rico has promised to pay him $350 on that day if he works with him. What is Kip’s marginal cost of joining Rex Kwan Do? Correct answer: $900 why don't you include 300 also? explanation
Is this example also an example of economically rational decision making? “In 2019, I started my small business by selling prints of my photographs. Now it’s temporarily closed. During this time I had the option of shipping my prints through USPS or UPS. I decided to ship my prints through USPS instead of UPS since it was a bit expensive at the time. My prints that were shipped out from USPS arrived in time and came in good condition. The opportunity cost is the cost of UPS shipping.”
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Kip is trying to decide whether to take a one-day martial arts class at Rex Kwan Do. The fee for the class is $400. Kip will also have to pay his brother Napoleon $150 for that day in return for giving him a ride into town. Instead of taking the class Kip could spend all day on the computer chatting with his girl, LaFawnduh. This gives him a value of $300. On the other hand, he could spend all day working with his Uncle Rico and making sweet moolah. Uncle Rico has promised to pay him $350 on that day if he works with him. What is Kip’s marginal cost of joining Rex Kwan Do? Group of answer choices $650 $550 $400 $300 $350 $150 $900
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Could you solve d, e, and f please?

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