Mowgli and Baloo like to catch fish and pick bananas. Some informationabout their productive abilities is given below. If they work togetherefficiently and catch 90 fish, how many bananas can they also consume?МaximumOpportunity CostMowgli20 fishOCB = 2/3 fishBaloo100 bananasOCF= 5/4 bananasAnswer:Suppose a market has the following demand and supply curves:Demand: P= 21-QSupply: P= 0.2Q.If the government imposes a $8/unit tax, what will be the buyer's taxburden?Answer:Gilberto's reservation prices for tubs of hummus are given below.Q (Tubs)Reservation Price($)1282216414136.11Gilberto can also consume other foods which give him a constant marginalutility of 9.3 utils and cost $9.6. What is Gilberto's marginal utility from the4th tub of hummus?Answer:LO

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Mowgli and Baloo like to catch fish and pick bananas. Some information about their productive abilities is given below. If they work together efficiently and catch 90 fish, how many bananas can they also consume? Maximum Opportunity Cost Mowgli 20 fish OCB = 2/3 fish %3D Baloo 100 bananas OCF = 5/4 bananas Answer:

Mowgli and Baloo like to catch fish and pick bananas. Some information about their productive abilities is given below. If they work together efficiently and catch 90 fish, how many bananas can they also consume? Maximum Opportunity Cost Mowgli 20 fish OCB = 2/3 fish %3D Baloo 100 bananas OCF = 5/4 bananas Answer:

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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2. Determining opportunity cost Juanita is deciding whether to buy a suit that she wants, as well as where to buy it. Three stores carry the same suit, but it is more convenient for Juanita to get to some stores than others. For example, she can go to her local store, located 15 Discounted minutes away from where she works, and pay a marked-up Marked-up price price price of $102 for the suit: Juanita's office Original price Travel Time Each Way Price of a Suit (Minutes) (Dollars per suit) Store Local Department Store 15 102 Across Town 30 88 Neighboring City 60 63 Juanita makes $18 an hour at work. She has to take time off work to purchase her suit, so each hour away from work costs her $18 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. Complete the following table by computing…
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