Study the following table and answer the question that follows. Country Tons of Soybeans 100 150 China United States Computer 300 750 Based on the information in the table, assume China and the United States have the same amount of resources with which to produce soybeans and computers and they produce no other goods. The opportunity cost of producing 1 ton of soybeans in the United States is... a) 1/5 of a computer. b) 1/3 of a computer. c) 3 computers. d) 5 computers.

Q: Based on the following game, where firms A and B must independently decide whether to charge high or…

A: Here a dominant strategy is one which i played by the player irrespective of the strategy that is…

Q: 8 PRICE (Dollars per used smart device) 8. 8 160 0 0 Brian Crystal Edison + Hilary Kevin 3 QUANTITY…

A: Producer surplus refers to the area below the price and above the supply curve. It is the difference…

Q: T'he table represents the market share of the 10 largest steel producers. Firm Market Share (%) 1…

A: In order to determine the level of competition among various firms, various methods are used by the…

Q: Good Rulers Pens Pencils (2020) Price (2020) (2021) 1000 R3.00 900 2000 R5.00 2 200 600 R6.00 500…

A: Nominal gross domestic product (GDP) is GDP given in current prices, without adjustment for…

Q: D. Describe ONE change in transportation infrastructure necessary to facilitate urban industrial…

A: To show the dependence of certain dependent/peripheral nations on certain dominant/core nations, the…

Q: You have been offered a unique investment opportunity. If you invest $10,800 today, you will receive…

A: Net present value, or N P V, is used to calculate the current total value of a future stream of…

Q: a. Show the optimum using indifference curves and a feasible set diagram. b. Show how this optimum…

A: Firstly we know that an indifference curve indicates an aggregate of items that supply a person…

Q: Suppose that at 500 units of output, marginal revenue is $9, marginal cost is $6, and average total…

A: In economics, understanding the relationship between marginal revenue (MR), marginal cost (MC), and…

Q: Please help solve. Thank you.

A: To assess exchange rate risk for Washington Co. and Vermont Co., we analyzed currency fluctuations…

Q: Take one example, micro mathematics, for example about the relationship between customer…

A: Consider a model, where there are 2 goods, x & y. The price of x & y, is given by Px &…

Q: 9. One firm previously operated as a monopoly. Now, one potential entrant exists. Consumers would…

A: A monopoly is a market structure where there are only one seller and many buyers. The seller has…

Q: . Suppose we have the following information: utility function U=XY; I=200; Px=5 and Py=10. The…

A:

Q: China 4,800 Which good will China export and which good will Canada export? Canada will export…

A: Opportunity cost measures the trade off between two goods.

Q: Needing some help with this.. thank you so much!

A: Firms in the labor market represent the demand (dd) side of the labor services and households…

Q: At the new fishing quota, what is the quota rent per pound of Bluefin tuna? Suppose the average…

A: Economic rent refers to the price different between he demand and supply at the particular level of…

Q: pose the accompanying graph depicts a monopolistically competitive firm earning positive economic…

A: The difference between revenue being received from sales and the cost of all inputs that are being…

Q: The CPI measures the average prices paid by for

A: CPI is calculated by using the following formula: CPI = Cost of market basket in given yearCost of…

Q: Suppose the money multiplier is 2 and remains constant. If the Fed buys $1,000 of Treasury…

A: Fed is the central bank of United States and is an open market operations committee.

Q: Figure 11.2 Figure 11.2 shows demand and costs for a monopolistically competitive firm. At the…

A: A monopoly is a market structure characterized by the following key features:1. Single Seller: There…

Q: 3) Using benefit-cost ratio analysis, a 10-year useful life and a MARR of 25%, determine which of…

A: The benefit-cost ratio (BCR) is an indicator showing the relationship between the relative costs and…

Q: The table below shows a survey for 320 customers used to figure out a total market demand curve for…

A: In this question we are given with the table which shows the survey of 320 customers which was used…

Q: For the demand function P = 221 √Q+3 a) Find the value of Q when P = 17 b) Find the price elasticity…

A: PED is a measure used in economics to quantify the responsiveness of the quantity demanded of a good…

Q: g. Suppose you are told that after the price increase, the highest level of utility Alex can enjoy…

A: The utility function is the mathematical relationship between the utility and different bundles of…

Q: Policymakers are provided data about the private and social benefits of a good being sold in the…

A: An externality can be positive or negative. A positive externality is a benefit received by a third…

Q: 8. The income-expenditure model Consider a small economy that is closed to trade, so its net exports…

A: Answer to the question is as follows :

Q: Part 1: 1. Suppose the monetary base is $80,000, the reserve requirement is 0.20, the…

A: Since you have posted a question with multiple sub-parts, we will provide the solution only to the…

Q: If the country of Magnolia had G = $700 and T = $800, then O it had a budget deficit of $100 it had…

A: Budget deficit occurs when government's expenditure is more than its revenues. Budget surplus occurs…

Q: Which of the following is an intermediate good? Gasoline purchased for a ski trip to Colorado. O The…

A: In a broader basis we can categories goods as intermediate and final goods. As the name suggests,…

Q: A manager checked production records and found that a worker produced 225 units while working 50…

A: Given information: A worker produced 225 units while working 50 hours The same worker produced 160…

Q: A wholesaler (upstream firm) sells a product to a retailer (downstream firm). Both the wholesaler…

A: Profit maximization is a system enterprise corporations go through to make certain the fine output…

Q: Changes in the general economy, like changes in interest rates or tax laws, represent what type of…

A: There are a number of economic instruments to pick from whilst making an investment withinside the…

Q: The below graph shows the demand and cost curves for ABC Electric Co, a natural monopoly in a small…

A: The natural monopoly exists when there is a high start-up cost or powerful economies of scale for…

Q: financed, and it faces a 40% tax rate. Assume that the firm has no amortization expense. The…

A: earnings before interest and taxes is a measure of a firm's profit that includes all incomes and…

Q: How does a pure command economy answer the basic question of which goods and services should be…

A: When talking about the types of economies, it can be seen that there are different economic systems…

Q: Consider the following production function. Y=K0.5N0.5. Consider K/N=1. Now consider a doubling of…

A: Production function: Y= K0.5 N0.5

Q: The economic researcher defined the consumption function as follow: C= $600 billion + 0.9Y, a. What…

A: As per guidelines we can solve only first three sub-parts for you if you want another answer please…

Q: 2. Answer this part of the question with Steps Answer the following questions by drawing indifferent…

A: 2(a) Since the combination of sugar and coffee are used to make coffee drinks, thus sugar and coffee…

Q: Prime Interest Rate Rises Business Investment Falls M1 Rises at Faster Rate M1 Rises More Slowly GDP…

A: Sell Government Bonds then When the government sells bonds, then it is the contraction policy where…

Q: Fred Corp. is considering a project that has the following cash flow data. What is the project's…

A: The internal rate of return (IRR) approach is used to calculate the discount rate at which the…

Q: A profit-maximizing firm in a perfectly competitive market is able to sell its product for $7. At…

A: Firms in perfect competition are price takers, they have no control over price.

Q: The tables set out information about the economy of Athabasca. Table 1 Production Function Suppose…

A: Labour market equilibrium wage rate is determined by the two main forces  interaction which is…

Q: Which of the following instruments pays the holder of the instrument a fixed interest payment every…

A: A fixed-payment loan is one for which the borrower agrees to pay the lender predetermined amounts…

Q: An economy is currently in a recession. (a) Draw a single correctly labeled graph with both the…

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

Q: 2. List the demand determinants and supply determinants and show how thy might shift the supply and…

A: The law of demand is a theory of economics that determines the demand for commodities at a specific…

Q: The price of long-distance telephone service fell from 40 cents per minute in 1996 to 22 cents per…

A: What is Consumer Price Index. Definition: A comprehensive measure used for estimation of price…

Q: The following graph shows the market for peanut butter in Dallas, where there are over 1,000 stores…

A: Market equilibrium refers to a state in which the supply of a particular good or service matches the…

Q: The following production table gives estimates of the maximum amounts of output possible with…

A: The marginal product of Y measures the change in the total product due to the change in input Y,…

Opportunity Cost Analysis

Opportunity cost refers to the loss of potential benefits when choosing one alternative over another. It is the tradeoff a person makes, or the potential gains they miss out on, because of their choice. To analyze opportunity cost, we must consider the benefits and tradeoffs of each available option.