LM K furniture Refer to the figure above. If cars are capital intensive and furniture is labor intensive, then according to the HO theory, then this country... (select all that apply). HINT: this PPF is drawn so that it does NOT hug either axis. Use the graph to identify which good is imported and which good is exported. This will help you answer the question.

LM K furniture Refer to the figure above. If cars are capital intensive and furniture is labor intensive, then according to the HO theory, then this country... (select all that apply). HINT: this PPF is drawn so that it does NOT hug either axis. Use the graph to identify which good is imported and which good is exported. This will help you answer the question.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please help with b. $32 is incorrect. :(
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1. Definition of economic costs Shen lives in San Diego and operates a small company selling drones. On average, he receives $727,000 per year from selling drones. Out of this revenue from sales, he must pay the manufacturer a wholesale cost of $427,000. He also pays several utility companies, as well as his employees wages totaling $254,000. He owns the building that houses his storefront; if he choose to rent it out, he would receive a yearly amount of $31,000 in rent. Assume there is no depreciation in the value of his property over the year. Further, if Shen does not operate the drone business, he can work as a blogger and earn a yearly salary of $26,000 with no additional monetary costs, and rent out his storefront at the $31,000 per year rate. There are no other costs faced by Shen in running this drone company. Identify each of Shen's costs in the following table as either an implicit cost or an explicit cost of selling drones. Implicit Cost Explicit Cost The wholesale cost for…
Scenario: Mark grows herbs in his backyard. The table shows his output as a function of the square feet of land used. Land (square feet) Output (pounds) 0 0 1 10 2 22 3 31 4 39 5 46 6 52 Suppose Mark can sell his herbs at the price of $2.50 per pound, and that the rental price of land is $70 per square foot. How big of an herb garden should Mark maintain? A. A 4 square foot garden B. A 5 square foot garden C. A 3 square foot garden D. A 2 square foot garden Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
1. Suppose your current job pays you $300,000 a year. However, you are considering starting your own company. Based upon your research, you estimate your first year total revenue to be $7,500,000. There are however several costs of running the company during this first year, such as the cost of materials which will equal $2,750,000, employees who will receive in total $1,500,000, utilities which will cost $1,200,000, and rent that will be paid to the landlord that equals $1,800,000. Based on this information, solve for both your accounting profit and economic profit during this first year. Also, based upon these profit values, state whether you are better off starting this company or staying in your current job.
40.) What was one negative consequence of the development of factories? a. People migrated to cities for factory jobs b. the first textile factory was built in England c. Diseases spread quickly through cramped factory neighborhoods
(Figure: Determining Marginal Returns) Based on both the table and the figure, adding a third worker leads to marginal returns. Average Product and Marginal Product Output 1 2 3 14 Labor 5 6 17 12 10 8 6 4 8 9 10 0 -2 BAY constant 2 Total Product O negative 5 12 21 31 40 48 54 57 57 increasing 54 diminishing 4 MP 5 7 9 10 9 8 6 3 0 3 6 Workers AP 5 6 7 7.75 8 8 7.71 7.12 6.33 5.4 8 10 12
1. Explain the difference between explicit costs and implicit costs. 2. Explain the difference between economic profit and accounting profit. 3. What are the 2 variables that the Production Function is analyzing/graphing? Why does the production function diminish over time? 4. Give an example of a fixed cost and a variable cost. 5. How does fixed costs and variable cost change with increased production? 6. Why does Marginal Cost rise? 7. Why is the Average Total Cost curve U shaped? 8. Why is the Minimum Average Total Cost and Efficient Scale important? 9. What is the relationship between Marginal Cost and Average Total Cost? 10. Explain why economies of scale is important.
(Table: Production Function for Quinoa) Use Table: Production Function for Quinoa. Assume that the fixed input consists of 10 acres of land and a tractor, which have a combined cost of $150 per day. The cost of labor is $100 per worker per day. The total cost of producing 75 bushels of quinoa is: Table: Production Function for Quinoa Number of Workers Bushels of Quinoa 10 1 2 3 4 5 transcript O $7,650. O $1,225. O $650. O $1,150. 10 25 45 60 70 75
2FIM... Homework Chapter 9 i Saved Help Save Imagine you have some workers and some handheld computers that you can use to take inventory at a warehouse. There are diminishing returns to taking inventory. If one worker uses one computer, he can inventory 150 items per hour. Two workers sharing a computer can together inventory 200 items per hour. Three workers sharing a computer can together inventory 220 items per hour. And four or more workers sharing a computer can together inventory fewer than 235 items per hour. Computers cost $100 each and you must pay each worker $25 per hour. 10 points Instructions: Round your answers to 2 decimal places. eBook a. If you assign one worker per computer, what is the cost of inventorying a single item? Print References b. What if you assign two workers per computer? What is the cost of inventorying a single item? c. What if you assign three workers per computer? Mc Graw Hill ....R.. .... .... .. 71°F Sunny 2 Type here to search DELL
Sub : EconomicsPls answer very fast.I ll upvote. Thank You
9:06 & G O lll 57% [Template] week.. 团: Answer the following questions The factor resources available to an economy will determine its output of economic goods. The relationship between resources and output can be shown on a production possibility curve diagram. For example, growing demand for meat free, vegetarian and vegan diets is changing the way resources are being used in food production and processing in many countries. Many existing suppliers of vegan foods are new and relatively small, but the expanding market is creating opportunities for growth. The price elasticity of demand for different types of foods has also been changing over time. 1. Define economic good. 2. Explain the two economic concept given in above case study. 3. Analyse why demand for a product may become more price elastic over time II