20New PPC1510347.TRUCKS PER DAYSuppose Raphael is currently using combination D, producing one truck per day. His opportunity cost of producing a second truck per day isper day.Now, suppose Raphael is currently using combination C, producing two trucks per day. His opportunity cost of producing a third truck per day isper day.From the previous analysis, you can determine that as Raphael increases his production of trucks, his opportunity cost of producing one more truckSuppose Raphael buys a new tool that allows him to produce twice as many trucks per hour as before but doesn't affect his ability to produce puzzles.Use the green points (triangle symbol) to plot his new PPC on the previous graph.Because he can now make more trucks per hour, Raphael's opportunity cost of producing puzzles isit was previously.PUZZLES PER DAY 1. Opportunity cost and production possibilitiesRaphael is a skilled toymaker vho is able to produce both trucks and puzzles. He has 8 hours a day to produce toys. The following table shows thedaily output resulting from various possible combinations of his time.Hours ProducingProducedChoice (Trucks) (Puzzles) (Trucks) (Puzzles)A4B62344213D6116E817On the following graph, use the blue points (circle symbol) to plot Raphael's initial production possibilities curve (PPC).3025Initial PPCA20New PPC15ES PER DAY

Hours Producing Produced Choice Trucks Puzzles Trucks Puzzles A 8 0 4 0 B 6 2 3 9 C 4 4 2…

Answered: Suppose Raphael is currently using…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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For the annual school bazaar, Emmy can produce and sell either origami frogs (F) or birds (B). For his origami he needs to work with sheets of paper, glue, and paper clips. Below table shows how many units of each input factor is needed to produce one origami. It also shows the total amount of input units available. Emmy’s profits per origami bird and frog are =1 and =2, respectively. 1:Which formula describes the sheets of paper constraint? a F <= 5 b F <= 6-2/3B c B <= 5 d F <=7-1B 2: Which formula describes the glue constraint? a F <=7-1B b F <= 5 c B <= 5 d F <= 6-2/3B 3: Which formula describes the paper clips constraint? a B <= 5 b F <=7-1B c F <= 6-2/3B d F <= 5 4: The iso-profit line has a slope of negative a…
Eddie Guitars 32 28 24 20 16 12 8 4 0 Tubas 0 1 2 3 4 5 6 7 8 Dave Guitars 25 20 15 10 5 0 Tubas 0 1 2 3 4 5 35 30 25 20 15 10 5 0 30 25 20 15 10 5 0 0 0 2 1 2 4 3 6 4 8 5 10 6 Eddie and Dave both produce guitars and tubas. They produce a given amount of each per month as seen in the tables above. Given the production possibilities curves of each individual above, answer the following: Who has the comparative advantage in the production of tubas? Eddie, because his opportunity cost of producing a tuba is 0.75 guitars tubas compared to Dave's opportunity cost of producing a tuba guitar of 0.25 guitars Dave, because his opportunity cost of producing a tubas is 5 guitars compared to Eddie's opportunity cost of producing a tuba of 4 guitars Dave, because he is able to produce a lower number of tubas compared to Eddie Dave, because he is able to produce a lower number of guitars compared to Eddie Eddie, because his opportunity cost of producing a tuba is 4 guitars compared to Dave's…
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Consider three firms, A, B and C, all producing kilos of potatoes (per year). The diagrams for the marginal cost curves for each of the three firms are shown. Suppose that the total quantity for the market is 1200 kilos of potatoes. Keeping total output unchanged, what level of output should each firm be producing such that the industry is productively efficient? Assume all the points are on the marginal cost curve. O A. Firm A: 400 kilos, Firm B: 400 kilos, Firm C: 400 kilos B. Firm A: 550 kilos, Firm B: 650 kilos, Firm C: 0 kilos O C. Firm A: 150 kilos, Firm B: 400 kilos, Firm C: 650 kilos O D. FirmA: 400 kilos, Firm B: 400 kilos, Firm C: 150 kilos O E. Firm A: 400 kilos, Firm B: 650 kilos, Firm C: 150 kilos Cost ($) Cost ($) Cost ($) 2+ 2+ 150 150 Firm A 400 Quantity of potatoes Firm B 550 400 Quantity of potatoes Firm C 400 Quantity of potatoes 650 650 MCA MC₂ 750 MCC Q ✓ ON Q Q
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In this week’s journal entry, you are asked to reflect on the concept of economies of scale. There are many ways to define economies of scale, but the most straightforward explanation is as follows: The more you make of something, the less it costs. Walmart is truly a behemoth in the retail industry; aside from Amazon, there are few competitors that have become such dominant forces in the marketplace. How might economies of scale pose a threat to existing smaller competitors? Look around your own community. Has Walmart had an impact on smaller businesses in your area? https://sway.office.com/yw6F8tEDRmKwGA6G?ref=Link
#12 ch. 13 Can you explain what the correct one is and why? Can you also explain why the other ones are incorrect?
5. Costs in the short run versus in the long run Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only one factory. However, it is considering expanding production to two or even three factories. The following table shows the company's short-run average total cost (SRATC) each month for various levels of production if it uses one, two, or three factories. (Note: Q equals the total quantity of bikes produced by all factories.) Average Total Cost (Dollars per bike) Number of Factories Q = 100 Q = 200 Q = 300 Q = 400 Q = 500 Q = 600 360 200 160 240 400 720 2 540 300 160 160 300 540 3 720 400 240 160 200 360 Suppose Ike's Bikes is currently producing 100 bikes per month in its only factory. Its short-run average total cost is $ per bike. Suppose Ike's Bikes is expecting to produce 100 bikes per month for several years. In this case, in the long run, it would choose to produce bikes using On the following graph, plot the three SRATC curves for…

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