Suppose K = 1000, total amount of capital available for production L= 2000, total amount of labor available for production Suppose use a fixed mix of capital and labor in each sector. aKc = 4, capital used to produce one yard of cloth aLc = 2, labor used to produce one yard of cloth aKF = 1, capital used to produce one calorie of food %3! ALF = 1, labor used to produce one calorie of food %3D a. Suppose the relative price of cloth equals 1. Compute the quantities of cloth and food. b. Now assume the relative price of cloth is equal to 3. Compute the quantities of cloth and food.

Q: I need answer typing clear urjent no chatgpt used i will give upvotes full explanation

A:

Q: of oil would make 15 million barrels the optimal quantity to extract and sell

A: At price 90 oil would make 20 million barrels the optimal quantity to extract and sell this year.

Q: 5.6 Show What You Know - Buying vs Leasing A Vehicle /22 1. Tyler is a contractor in Winnipeg and…

A: Since you have posted a question with multiple subparts, we will answer the first three subparts for…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: 1) "According to the midpoint method, the price elasticity of demand between points A and B is…

Q: 5) A consumer has a fixed weekly budget (B) of $100 to spend on two goods (X and Y). Given unit…

A: “Since you have asked multiple questions, we will solve only one question for you i.e. question…

Q: What is the highest price consumers would be willing to pay for this product? Also called the…

A: Total revenue is the total value of the commodities produced and sold in equilibrium. Economic costs…

Q: Coronado Industries developed the following data: Beginning work in process $1100000 inventory…

A: The data of the Coronado Industries has been given to us showing various components in it and we…

Q: Using the graph, complete the table that follows by indicating whether each statement is true or…

A: In the language of economics, "demand" is the amount of an item or service that buyers are willing…

Q: Do you currently have a job? Do you feel valued and appreciated at work? Type A Yes Yes 4.7% 7.9%…

A: Unemployed are those people who are willing to work but do not have a paid job. Unemployment rate…

Q: The South Korean Government in the 1970s decided to follow a strategy of increased investment in…

A: Scarcity refers to the limited availability of resources, that are used to produce goods and…

Q: How did you compute 7.2%?

A: Stay-even analysis shows if your change in price is viable or profitable or not. The formula for…

Q: Suppose the market for apples is perfectly competitive. The short-run average total cost and…

A: A perfectly competitive firm is a price taker. It accepts the market price as given.

Q: Consider the global market for tin represented by Figure 7.4. Initially equilibrium is at point A…

A: A price ceiling is a maximum price set by the government that sellers are allowed to charge for a…

Q: Lachlan has a Jacaranda growing in his yard. One of the tree limbs is growing over into Dan's…

A: Introduction  A gain is a general increase in the value of an asset or property. A gain refers…

Q: What would a straight-line production possibilities frontier between grape juice and apple juice on…

A: (Since you have posted multiple questions, we will answer the first one for you. If you want a…

Q: What is the highest price consumers would be willing to pay for this product? Also called the…

A: The maximum price that a consumer is willing to pay for a good or service, or the lowest price that…

Q: Write a brief on SDGs 7,8 and 13. How it works if there is a hydro power plant. Maximum 1000

A: The Sustainable Development Goals (SDGs) linked to global goals aimed at becoming a "framework for…

Q: Malcolm Manufacturing is an electronics manufacturer and retailer. Its main products are notebooks,…

A: The elasticity of price, also called price elasticity of demand, is an economic concept that…

Q: Renting would be better than buying for an individual who does not want to need to pay for…

A: Renting - Renting is the amount paid for using the property and this use can be for personal…

Q: Determine the revenue per year and revenue over the lifetime of the customer Number of smart devices…

A: Revenue is defined as the income of the company. The revenue generated is done from two sources…

Q: Instructions: Use the Mark Line tools to find the quantities demanded and supplied at the $7 minimum…

A: Minimum wages refers to the minimum legal remuneration that an employer must pay the workers during…

Q: A retailer bought several pairs of Jean's for $75,000. He sold all but 30 pairs got 86400 making a…

A: Let, retailer bought x pairs of jeans at price $y for each pair. Total cost: xy = $75,000 Since he…

Q: PLS HELP ASAP ON BOTH

A: 2. The correct answer is:c) tacked at the point of the smallest gap first.When there is a radii…

Q: Question 7 88 7 6+ 56 49 34- mc 20- AC A 1 2 3 4 S C 7 8 T Refer to the figure above. What is…

A: Cost (C) of production is the cost (C) incurred during the production process (P) of the commodities…

Q: PLS HELP ASAP ON BOTH

A: In assessing the impact of heat input on a weld, understanding the rate of heating, maximum…