The opportunity cost of 1 bottle of wine for Jane isa. 1/3 cloth.b. 3 cloth.c. 2 cloth.d. 1/2 clothLabor hours needed to make one:

Here's a general explanation of how to calculate it:Identify the labor hours needed for each…

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose that when you pick apples for 3 hours, you pick 8 baskets of apples. If you pick apples for an extra hour, you pick a total of 10 baskets. Choose the correct statement. OA. The marginal increase from picking apples one more hour is 18 baskets. OB. The marginal benefit from picking apples one more hour is 8 baskets. OC. The marginal benefit from picking apples one more hour is 2 baskets. D. The marginal cost of picking apples one more hour is 10 baskets.
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Pizza 8 0 5 Pizza $1.25 0 (A) $2.00 (C) O graph A O graph D O graph B O graph C Beer Beer Pizza 5 0 Pizza 10 0 (B) (D) 8 10 Beer Beer Refer to the graphs. Assume that pizza is measured in slices and beer in pints. In which of the graphs is the opportunity cost of a pint of beer equal to 0.62 slice of pizza?
Use the table to answer questions 1. What is the oppourtonity cost of producing 800 tons of fruit instead of 450?
5. Opportunity cost and production possibilities Raphael is a skilled toy maker who is able to produce both trucks and kites. He has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of his time. Choice Hours Producing Produced (Trucks) (Kites) (Trucks) (Kites) A 8 0 4 0 B 6 2 3 10 C 4 4 2 16 D 2 6 1 19 E 0 8 0 20 On the following graph, use the blue points (circle symbol) to plot Raphael's initial production possibilities frontier (PPF). ( attached image) Suppose Raphael is currently using combination D, producing one truck per day. His opportunity cost of producing a second truck per day is( 1, 3, 16, 19 kites) per day. Now, suppose Raphael is currently using combination C, producing two trucks per day. His opportunity cost of producing a third truck per day is ( 1,6,10, or 16 kites) per day. From the previous analysis, you can determine that as…
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Please help me find the answer to the following. I got the answer wrong.
5. Opportunity cost and production possibilities Maria is a talented artist who sells hand-crafted goods on her website. Maria currently crafts and sells both crochet hats and baskets. She spends 8 hours a day working on crafts. The following table gives different daily output scenarios depending on how much of her time is spent on each good. Hours Crafting Produced Choice (Crochet hats) (Baskets) (Crochet hats) (Baskets) 0 0 10 16 18 19 BASKETS A B с D E 30 25 20 8 6 15 4 2 0 2 4 8 On the following graph, use the blue points (circle symbol) to plot Maria's initial production possibilities frontier (PPF). 4 3 2 1 0 Initial PPF ⠀3 New PPF
Firm X have 1200 labor, to producer one unit Cheese its required 5 unit labor and to produce one unit Wine its required 10 unit labour. 1.Find out the opportunity cost of cheese in terms of wine. 2.Draw the PPF of firm X. 3.Show what will happen to PPF when labor requirement for cheese increase to 10 and wine decrease to 5.
An owner of a landscaping business received extra income in the previous month. She is considering eitner buying a new lawnmower or spending the money on an advertisment in order to increase business in the next few months If the business owner chooses to spend the money on an advertising campaign, what is the opportunity cost? O A. more advertising O B. next month's income O C. the lawnmower O D. increased business
Output Mathew Danar bagels 9 4 cream cheese 12 9 What is Mathew's opportunity cost for 9 units of bagels? What is Mathew's opportunity cost for 1 unit of bagels? What is Danar's opportunity cost for 4 units of bagels? What is Danar's opportunity cost for 1 unit of bagels? What is Mathew's opportunity cost for 12 units of cream cheese? What is Mathew's opportunity cost for 1 unit of cream cheese? What is Danar's opportunity cost for 9 units of cream cheese? The table shows the maximum amount of bagels and cream cheese that Mathew and Danar can produce with the same amount of resources. What is Danar's opportunity cost for 1 unit of cream cheese? units of (select unit) units of (select unit) units of (select unit) units of (select unit) units of (select unit) units of (select unit) units of (select unit) units of (select unit)

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The opportunity cost of 1 bottle of wine for Jane is a. 1/3 cloth. b. 3 cloth. c. 2 cloth. d. 1/2 clothLabor hours needed to make one: