Table 2.1 Krystal 8 Writing TV Commercials Mark 12 Writing Poems 4 10) Refer to Table 2.1. For Krystal, the opportunity cost of writing one TV commercial is A) 1/4 of a poem. B) 2 poems. C) 4 poems. D) 6 poems. Answer: C

Table 2.1 Krystal 8 Writing TV Commercials Mark 12 Writing Poems 4 10) Refer to Table 2.1. For Krystal, the opportunity cost of writing one TV commercial is A) 1/4 of a poem. B) 2 poems. C) 4 poems. D) 6 poems. Answer: C

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter1: Ten Principles Of Economics

Section: Chapter Questions

Problem 2QR

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5. Opportunity cost and production possibilities Sam is a talented artist who sells hand-crafted goods on his website. Sam currently crafts and sells both crochet hats and pillows. He spends 8 hours a day working on crafts. The following table gives different daily output scenarios depending on how much of his time is spent on each good. Choice A B C D E PILLOWS 30 25 20 On the following graph, use the blue points (circle symbol) to plot Sam's initial production possibilities frontier (PPF). 15 10 5 0 Hours Crafting Produced (Crochet hats) (Pillows) (Crochet hats) (Pillows) 0 0 9 15 17 18 0 8 6 4 2 0 1 2 3 2 4 6 8 4 5 CROCHET HATS 4 3 2 6 1 0 7 8 Initial PPF A New PPF (?)
A B C D E F Production Options Output of Output of Trucks per Day Tanks per Day 0 2.0 5 4 3 2 1 0 3.0 3.8 4.5 5.0 Output of Trucks (per day) 5 A A 0 0 1 B What is the opportunity cost of the first truck produced? Instructions: Enter your response rounded to one decimal place. tank(s). 2 3 4 E Output of Tanks (per day) F 5 6
Production Possibilities Curves (new) - Saved - o Search Ac Layout References Mailings Review View Help Production Possibilities Curves Assignment Suppose that Crystal Falls produces sports drinks and bottles of water. Below are the possible combinations of sports drinks and bottles of water that Crystal Falls can produce. Combination Sports drinks (X axis) Bottles of water (Y axis) A 32 12 27 22 20 30 11 36 A On the graph below, plot the Production Possibilities Curve for Crystal Falls B. What is the opportunity cost of the first twWelve sports drinks produced? C. What is the opportunity cost of increasing production from 12 sports drinks to 22 sports drinks? D. What is the opportunity cost of increasing production from 22 sports drinks to 30 sports drinks? E. What is the opportunity cost of increasing production from 30 sports drinks to 36 sports drinks? F What is happening to the opportunity cost as Crystal Falls produces more sports drinks? What is the onnorhinty cost of the first…
Lesson 2 Assignment Product Combo A Combo B Combo C Combo D Combo E Motorcycles 0 2 4 6 8 Surfboards 30 27 21 12 0 Graph the above production data, putting motorcycles on the horizontal axis. What are the opportunity costs of moving from point B to point D and from point D to point A? Point F represents 3 motorcycles and 21 surfboards. Plot this point on your graph and explain what it represents. Point G represents 5 motorcycles and 24 surfboards. Plot this point on your graph and explain what it represents.
1. Ramon and Sammy are working on a group homework assignment. The homework consists of a set of essay questions and a set of questions on graphing models. Ramon can finish an essay question in about 15 minutes and a graphing question in about 30 minutes. Sammy can finish an essay question in about 20 minutes and a graphing question in about 35 minutes. Assume that Ramon and Sammy produce the same quality answers. Calculate Ramon and Sammy's opportunity cost of each task. Please round each answer to the nearest tenth. a. Ramon’s opportunity cost of completing an essay question:____ graphing questions b. Ramon’s opportunity cost of completing a graphing question:_____essay questions c. Sammy’s opportunity cost of completing an essay question:___ graphing questions d. Sammy’s opportunity cost of completing a graphing question:___essay questions 2. If the two want to specialize in working on their homework, who should do the essay questions and who should do the…
合日 Document1 Q. Search in Document Home Insert Draw Design Layout References Mailings Review View + Share a A- A- :E-E- E - E E Times New R... - AaBbCcDdEe AaBbCcDc AaBbCcDdEe AaBb( AaBbCcDdEe AgBbCcDdEe AaBbCcDdEe AgBbCcDdEe Paste в I U - abe X, x2 Heading 1 Emphasis Styles Pane Normal No Spacing Heading 2 Title Subtitle Subtle Emph. 1. You own a private parking lot with a capacity of 600 cars. The demand for parking at this lot is estimated to be Q = 1000 – 2p, where Q is the number of customers with monthly parking passes and p is the monthly parking fee per car. 1. Write down your total revenue function as a function of Q. [Hint: R(Q) = p(Q)•Q.] 2. Derive your marginal revenue function. 3. What price generates the greatest revenues? Your fixed costs of operating the parking lot, such as the monthly lease paid to the landlord and the cost of hiring an attendant, are $25,000 addition, your insurance company charges you $50 per car per month for liability coverage. per month. In d.…
Please give detailed instructions on how to graph electronically using MS ppt, excel, google slides, google sheets. You may choose one from the softwares. There are six (6) graphs that you will teach me how to graph electronically 1. How to plot Production Possibilities Curve with feasible set in MICROSOFT Powerpoint ot Excel? Alternative Food Clothing (x) (y) A 0 15 B 1 14 C 2 12 D 3 9 E 4 5 F 5 0 Instructions for tutor: please share a google sheets or slides link here so i can view the graph; don't just share picture in jpg format because I dont need it. We have a reference book and I can see the jpg picture of the graph there. i know how to plot manually using graphing paper, i want to learn how to plot electronically. Please see attached photo for the feasible set. Please include it in the graph. Search on Google on how to do feasible set electronically
5. China is able to produce turnips and potatoes in combinations represented by the following table. (Each number represents 1,000s of bushes.) Potatoes Production Turnips point a. B C D E b. C. points. 100 and 0 90 and 10 and 20 and 30 and 40 70 40 0 Plot the data on a production possibilities graph, labeling Can China produce a combination of 30 turnips and 24 potatoes? Draw this production point on the graph (label it F) and verbally explain. Demonstrate that China experiences increasing opportunity costs by calculating the opportunity cost of producing another potato at each production point. Explain.
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Sophia ✓ My Home Courses WyoWeb Catalog and Study Tools Rental Options College Success Tips Career Success Tips ? Help « Give Feedback CENGAGE MINDTAP Homework (Ch 09) 4. Effects of a tariff on international trade PRICE (Dollars per ton) 525 495 465 The following graph shows the domestic supply of and demand for maize in Sudan. The world price (Pw) of maize is $255 per ton and is represented by the horizontal black line. Throughout the question, assume that the amount demanded by any one country does not affect the world price of maize and that there are no transportation or transaction costs associated with international trade in maize. Also, assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. 435 405 375 345 315 285 Homework (Ch 09) 255 225 0 10 20 Domestic Demand Domestic Supply x 40 50 60 70 QUANTITY (Tons of maize) music ✓ cody ✓ Engl 1010 Wyo bSearch results for 'The following graph s... 30 ng.cengage.com…
(on puw Directions/ lestructions Evaluate a wrtten text basd Name Acantfao Assessment Directions: ldentify the function of communication in each of the following situations. Write your answer on the space provided before each number. 1. Samantha shares her travel stories to her classmate during break time. 2. Mr. Lorenzo describes the main features and characteristics of each planet in our Solar System. 3. The president delivers a moving speech to help him pave the path for a better and progressive Philippines. 4. The guidance counsellor reprimands the two students who skipped classes after lunch break. 5. Ana tries to calm her best friend who just broke up with her boyfriend. 6. Boyet shares his struggles in school to his father. 7. Mrs. Santos tries to accommodate her son's friends in their home. 8. The security officer reminds the public of the things they should do in case of an emergency evacuation. 9. Mang Tomas visits his friend who has just arrived from Vietnam. 10. Eman, the…