2. Below is a production possibilities table for automobiles and forklifts: Type of Production Automobiles Forklifts Pro 0 2 30 27 4 21 6 12 8 0 (a) Graph the production possibilities frontier for this economy (with Automobiles on the horizontal axis and forklifts on the vertical axis). Is production at a point outside the production possibilities curve currently possible? (b) If the economy characterized by the production possibilities above were producing 3 automobiles and 20 forklifts, what could you conclude about its use of available resources? (c) Is the opportunity cost (in terms of Forklifts) of producing additional units of Automobiles increasing, decreasing, or constant? Explain. (c) Explain how (if at all) each of the following affects production possibilities frontier: i. The quality of education increases. ii. The number of unemployed workers increases. iii. A new technique improves the efficiency of extracting copper from ore (a major input in production of automobiles and forklifts). iv. A devastating earthquake destroys numerous production facilities.

2. Below is a production possibilities table for automobiles and forklifts: Type of Production Automobiles Forklifts Pro 0 2 30 27 4 21 6 12 8 0 (a) Graph the production possibilities frontier for this economy (with Automobiles on the horizontal axis and forklifts on the vertical axis). Is production at a point outside the production possibilities curve currently possible? (b) If the economy characterized by the production possibilities above were producing 3 automobiles and 20 forklifts, what could you conclude about its use of available resources? (c) Is the opportunity cost (in terms of Forklifts) of producing additional units of Automobiles increasing, decreasing, or constant? Explain. (c) Explain how (if at all) each of the following affects production possibilities frontier: i. The quality of education increases. ii. The number of unemployed workers increases. iii. A new technique improves the efficiency of extracting copper from ore (a major input in production of automobiles and forklifts). iv. A devastating earthquake destroys numerous production facilities.

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

CO Homework1 (1) (Compatibility Mode] - Word Mason B. Wohlfeil Layout References Mailings Review View Help O Tell me what you want to do P Find- - A A Aa- AE EE-EE AT AaBbCcI AaBbCcI AaBbC AaBbC AaBbCcD AaBbCcL AaBbCcL AAB6CCL x A-空-A. .凸.田 ab Replac A Select 1 Normal 1 No Spac. Heading 1 Title Subtitle Subtle Em. Emphasis Intense E. Paragraph Styles Editing 3) What would a straight-line production possibilities frontier between grape juice and apple juice on Fruity Goodness Orchards say about opportunity costs? (1 point) 4) Use economics to explain why people smoke even though they know smoking is not good to their health? (2 points) + 100% 1:44 AM w] 00 1/22/2021 lyp 曲 num ik 7. 8. 6. backspace $ & %3D 4 5 6 8. 9. 5. 6.
The board of your company discusses a possible future price increase of 20% for one of the products. The argument against the increase is a decrease in sales due to the increased price. With how many units (pieces), sales can fall, without changing the total gross margin, with the following data for your company.Current sales price per piece SEK 600Variable costs per piece SEK 450Current sales volume 10,000 pieces
ansitions Animations Slide Show Review View Help the Internet can contain viruses Unless you need to edit, it's safer to stay in Protected View. & Share Enable Editing Question 2 Cars produced each day A specialty-car manufacturer has plants in Auburn, Biloxi, and Chattanooga. Three models are produced, with daily production Model K Model R Model W Auburn 12 10 Biloxi 4 20 = A Chattanooga 8. 9. 12 given in the matrix on the upper left. January February Because of a wage increase, February profits are lower than January profits. The profit per car is tabulated by model in the Model K $1000 $500 Model R $2000 $1200 В Model W $1500 $1000 matrix on the lower left. arch 301 PM (?) 5/21/2021 wck R TYU pause VB M. 7ww7
Write a profit function and graph it to advise the grower on the most profitable amount of fertilizer to use.
Economics The Bruce Highway (from Cooroy to Curra) is currently being upgraded. The total expense of the project is 1.6 billion dollars and the federal government has contributed 1.1 billion of those dollars whilst the Queensland State Government has contributed the remaining 500 million dollars. If the only people to receive any benefit from the highway are those that use it, and the users are estimated to drive 20 million trips per year, over the next 8 years, what is the minimum the users must value each trip if the project is to be efficient? Answer to the nearest whole dollar per trip.
Country 1 International market Country 2 s2 S2 P. 25 20 20 S1 15 15 15 s1 EIP EIP 10 IP 10 10 5 D2 d2 d1EQ D1 0369 1215182124 0 3 6 9 1215182124 O 0 3 69 1215182124Q 15. At a price of $8, country 1 will offer for export 9 units of this product. seek to import 9 units of this product. choose not to trade. increase supply. P. 25 20 P. 25
Q4
Answer this question for me mate. Appreciate it. :)
Determine the revenue per year and revenue over the lifetime of the customer Number of smart devices over first half of life Number of smart devices over second half of life Average $ transaction per device $ monthly subscription paid - monthly total Average annual revenue -first half of life Average annual revenue -second half of life Average life of subscribed customer Revenue over lifetime Minimally Satisfied 2 1 $79 $9.99 2 years Moderately Satisfied 4 2 $85 $19.99 5 years Highly Satisfied 6 3 $79 $19.99 7 years
1
13. Discuss the potential impact of utility computing.14. Discuss the ethics related to use of RFID tags.
$1000) Average Incomes of Children with Low Income Parents (5) 9 50- 45- 40- 35- 30- 25- Upward Mobility versus Median Rent by Neighborhood Opportunity Bargains Normandy Parke 1,000 Central District 1,500 Median 2 Bedroom Rent 2,000 2,500 The image above displays the relationship between the cost of living as measured by the average rent of 2-bedroom housing, and income mobility as measured by the average income of children with low-income parents. Data for this image are from Seattle. Two neighborhoods are highlighted: Normandy Park and the Central District. Many people that receive housing vouchers would like to move to areas with high opportunities for their children, but assume those areas are too expensive. How do Normandy Park and the Central District illustrate the idea of *opportunity bargains"? there is a trade-off between the cost of living and higher income growth for the children. for families living in the Central District, Normand Park is more expensive to live in and has…