the opportunity cost of computers when moving from point A to point B? DVDs b. What is the opportunity cost of computers when moving from point B to point C? DVDs c. What is the opportunity cost of computers when moving from point C to point D? DVDs d. What is the opportunity cost of computers when moving from point D to point E? DVDs e. As we produce more computers, opportunity costs are (Click to select) #

the opportunity cost of computers when moving from point A to point B? DVDs b. What is the opportunity cost of computers when moving from point B to point C? DVDs c. What is the opportunity cost of computers when moving from point C to point D? DVDs d. What is the opportunity cost of computers when moving from point D to point E? DVDs e. As we produce more computers, opportunity costs are (Click to select) #

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q.20 What will be the shape of PPC when marginal opportunity cost is increasing? (a) Concave to the origin (c) Upward sloping (b) Convex to the origin (d) both (a) and (c) (b)
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Question 3 ( A B C D E Production Point Mountain Bikes a) straight-line; increase Ob) straight-line; decrease Oc) curved; decrease 0 30 50 60 65 d) curved; increase Beer 100 90 70 40 Refer to the table above. if you were to plot the points, then this would be a PPF, so when you try to produce 5 more mountain bikes from 60 to 65, the opportunity cost of beer will at a higher rate. 0
Complete the following sentence. Marginal cost Select one: A. remains constant. B. is the opportunity cost of producing one more unit of a good or service. C. is unrelated to the production possibilities frontier. D. is always greater then marginal benefit. E. always equals marginal benefit.
Ray bought two WVU football tickets for $100 each. However, he has won a free vacation and won’t be able to attend the game. A ticket scalper offers him $40 for each ticket before he leaves town. Calculate the opportunity cost. $0 $80 $200 $100 $120
QUESTION 2 The slope of the production possibilities frontier illustrates: The demand for the products shown. The supply of the products shown. The cost of producing the products shown. Absolute advantage. The opportunity cost of producing one product in terms of an alternative product that could be produced.
Economics
** || 85% Microeconomics > Page 2 of 5 2. Draw and explain a production possibilities frontier for an economy that produces milk and cookies. What happens to this frontier if disease kills half of the economy's cows? 3. Consider the following events: Scientists reveal that consumption of oranges. decreases the risk of diabetes, and at the same time, farmers use a new fertilizer that makes orange trees more productive. Illustrate and explain what effect these changes have on the equilibrium price and quantity of oranges. 4. Imagine that you are a nonsmoker sharing a room with a smoker. According to the Coase theorem, what determines whether your roommate smokes in the room? Is this outcome efficient? How do you and your roommate reach this solution? 5. Charlie loves watching Teletubbies on his local public TV station, but he never sends any money to support the station during its fundraising drives. (a) What name do economists have for people like Charlie? (b) How can the government…
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Questions 8-9
CHOOSE THE ANSWER FOR EACH QUESTION, FROM THIS LIST a)Reduction in resources b) Pivot outwards along the computer axis c)Unused Resources d)Increased production given resources e)Pivot outwards along the car axis f)PPF shift outwards g)Produce outside PPF h)Produce inside PPF i)PPF shifts inwards j)Increase in resources
Suppose that Cassie can produce 10 pounds of tuna per hour or 20 pounds of apple per hour, and Samantha can produce 20 pounds of tuna per hour or 10 pounds of apples per hour. Cassie and Samantha both want 80 pounds of tuna and 80 pounds of apple per day. a. How many hours must Cassie and Samantha work per day if they don't help each other? b. Suppose they decide to work together. Now how many hours each day do they have to work?What is the economic explanation for the reduction in hours?