I'm needed answer by Microsoft plz Question 1The total benefit and total cost of a one-week vacation in a year for Fatima is givenby the following values.TotalTotalMarginalMarginalBenefitVacationNetNumberBenefitCostCostBenefit11005011080325018042902703101101. Fill in the rest of the table2. What is the number of vacations thatmaximizes Fatima's net benefit? Explainyour answer in details.

As per the details mentioned in the above table the missing boxes has been filed with the applicable…

Answered: The total benefit and total cost of a…

Business

Economics

The total benefit and total cost of a one- week vacation in a year for Fatima is given by the following values.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: A model of saintlihood and altruism, when Mother Teresa accepted the Nobel Prize for Peace in…

A: The "Blessed Teresa of Calcutta" was awarded the Nobel Peace Prize in 1979 for her efforts in the…

Q: Explain the concept of opportunity costs and provide at least two real world examples illustrating…

A: The opportunity cost is the next best alternate which is given up.

Q: You have just woken up and are trying to decide whether to attend an upcoming lecture. The following…

A: Opportunity cost is the benefit obtained from another option that is not chosen by an individual.

Q: What is an incremental benefit-cost ratio?

A: An incremental benefit-cost ratio is a type of benefit-cost analysis that helps to understand the…

Q: Describe the straight-line method?

A: According to the straight-line method of depreciation, the equal amount of depreciation is allocated…

Q: How would an economist define the efficient amount of time studying?

A: Marginal cost (MC): The marginal cost refers to the amount of additional costs incurred in the…

Q: Please cite the given and provide solutions on how to arrive at the highlighted answer.

A: A lease payments is the monthly equivalent of rent that is explicitly stipulated under a binding…

Q: Answer all the questions given below and also include sources. Google provides email users with…

A: Yes , Google provides email users with 15GB of “free” storage. The idea is to offer people with some…

Q: As long as marginal benefit exceeds marginal cost, any economic activity is optimal. 1) True 2)…

A: Marginal Cost (MC): - it is the additional cost incurred due to the production of additional units…

Q: Describe the Incremental Benefit-Cost Analysis?

A: Incremental Benefit-Cost Analysis is an analysis to determine whether the investor to go ahead with…

Q: Define the term Benefit-Cost Ratio?

A: The process of analyzing the total benefits and total costs associated with the implementation of a…

Q: Attempts Average / 1 1. Understanding opportunity cost You work as an assistant coach on the…

A: Earnings per hour as a coach=$13 Carnival admission fees=$9 Attending the carnival includes two…

Q: From where concept of economic planning is derived?

A: Economic Planning is the process in which the limited natural resources are used skillfully so as to…

Q: Is there a pattern in opportunity cost changes?

A: Opportunity cost is a micro economics concept refer to the lost of the potential benefit for an…

Q: What is the Opportunity cost to this student for the additional amount of study time on economics…

A: The opportunity cost refers to the opportunity that has been foregone to select the best…

Q: Tom's opportunity cost of mowing lawns in terms of trimming bushes is trimmed bushes per mowed lawn.…

A: Tom's PPF is a straight line. PPF is a straight line because the opportunity cost is constant. If…

Q: From Opportunity cost point of view. Although attending college is expensive, time-consuming, and…

A: Opportunity cost is defined as the benefits an individual, business, or investor forgoes when he/she…

Q: Summarize the general framework for benefit-cost analysis?

A: A cost benefit analysis compares the estimated costs and the estimated benefits of any project to…

Q: Can you give an example of cost-savings?

A: Answer: Cost reduction is a continuous process of implementing various ways to bring a reduction in…

Q: Describe the Incremental Benefit-Cost Ratios?

A: Incremental Benefit-Cost Analysis is an analysis to determine whether the investor to go ahead with…

Q: Difference between opportunity cost and money cost

A: In economics, cost is the monetary value of material resources, time and effort expended, and risks…

Q: opportunity cost of 1

A: The ‘comparative advantage’ states that the country trade with each other with that good in which…

Q: how unreflective consumption of goods - in this case, sugar - affect your journey towards the good…

A: How unreflective consumption of goods - in this case, sugar - affect your journey towards the good…

Q: why Technical Writing is synonymous with effective communication

A: Technical writer is a professional information communicator whose job is to communicate information…

Q: Whether the statement, 'A nonrefundable cash outlay (e.g., money spent on a passport) is an example…

A: The term opportunity cost implies that the next best option forgone

Q: The rule of equating marginal benefit with marginal cost is proper for economics. Is this true?

A: The deep insight of the principle of microeconomics also has a field of environmental economics.…

Q: What are Direct Materials?

A: Direct materials are the physical items that are used in the manufacturing process to produce the…

Q: Illustrate some examples of straight-line methods?

A: According to the straight-line method of depreciation, the equal amount of depreciation is allocated…

Q: Timothy quits his job which pays $59,000 a year, to enrol in a 3-year graduate program. His annual…

A: Given, Salary from job = $59,000 per year Tuition expense= $60,300 Books expense = $9,500 Food…

Q: Hello! Would you be able to professionally assess my answer for accuracy to the following question…

A: I won a hockey ticket.It means ticket is free and there is no cost of ticket for me.I would get to…

Q: What are the aims of science as a cognitive enterprise?

A: The philosophy of science is the study of science as a cognitive enterprise, i,e; a knowledge…

Q: What solution did Malthus propose for the problems he identified

A: Thomas Malthus was an economist and philosopher of the 18th century and mostly known for the model…

Q: Describe the Benefit-Cost Ratio Calculation?

A: A benefit-cost ratio (BCR) or B/C ratio is a ratio used to sum up the overall relationship between…

Q: Effect of low consumer spending on micro economics? How to address the situation using the micro…

A: Consumer spending is the basic day-to-day spending of households that helps the firms and economies…

Q: To be efficient, outputs should be produced that minimize total cost. True or false

A: When the ATC(average total cost) is minimized, then the output level is efficient. ATC is a U-shaped…

Q: Is profit maximization acceptable as the objective of production in Islamic Economics? Why

A: According to Islamic consumer behavior, it evokes an economy that is low cost and has low…

Q: .In health care, which of the following factors determine the position of a cost curve?…

A: The cost curve represents the cost of production for using the production factors in a diagram.…

Q: Define the term opportunity cost?

A: The opportunity cost is the cost which is incurred by not enjoying the benefits related to the next…

Q: What is the cost of your one year education from the eye of an accountant and eye of an economist?

A: An accountant is the one who calculates the costs and profits using only explicit costs. An…

Q: In moving from combination D to C, the opportunity cost of producing 200 more autos is

A: The production possibilities curve “is a frontier between all combinations of products that can be…

Q: Timothy quits his job, which pays $50400 a year, to enrol in a 4-year graduate program. His annual…

A: Answer: Introduction: Opportunity cost: it refers to the amount people give up when they take an…

Q: What is proper method in economic analysis and what is the value of economic analysis?

Q: What are factors affecting economic analysis?

A: A study of the economic system can be defined as an economic analysis. The economic analysis helps…

Q: The primary focus of energy economics is how: Group of answer choices a-Energy…

A: "Correct option c."

Q: What are the major course learning outcomes from studying a microeconomics course?

A: Microeconomics is the discipline of economics that investigates the economy on individual and…

Q: Is it the possible for a person incur an opportunity cost without spending money?

A: Opportunity cost refers to the resources that are given up to produce some other good. Yes, it is…

Concept explainers

Cost of Production

The entire idea of the cost of production or production cost is applied corresponding, or we can say that it is related to monetary cost. Money cost refers to any money expenditure which the firm or supplier, or producer undertakes in purchasing or hiring factor of production or factor services.

Question

I'm needed answer by Microsoft plz

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

8. What is economic?
Sketch a graph to illustarte your idea of each of the following relationships. Be sure to label both axes appropriatley. In each case explain uder what circumstances, if any, the curve should shift. 1. The amount of fertilizer added to an acre of land and the amount of corn grown on that land in one growing season 2. An automobile's horspower and it's gasoline mileage (in miles per gallon)
What is the implication of a new technological change in the production on consumer.
1. Kim owns a Porsche and a Toyota. The Porsche has a fuel economy of 15 miles per gallon (mpg) and she plans to drive it 3,000 miles this year. The Toyota gets 30 miles per gallon and she plans to drive it 15,000 miles this year. Suppose Kim can install a device that improves the fuel economy of any vehicle by 5 miles per gallon. However, she only has one of the devices. Which vehicle should she install it on if her goal is to minimize fuel consumption this year? Assume that the device does not hamper vehicle performance in any way.
4. Explain all resources that economy relies?
I don't know how to draw that graph and about those changes..Will u please help me to solve that issue?
4. Suppose that a decent breakfast at the SCSU cafeteria costs $4. You always eat breakfast at SCSU, and you spend $80 on breakfast monthly. Unfortunately, the price doubles but your rich uncle gives you extra $80 to spend on breakfast. Are you better off or worse off than before? Explain; use graph in your answer. Make sure that you labelled the axes and all the shapes in your graph
Mega Partner is selling two products Marker(m) and Eraser(e) and their budget is given with thefollowing equation: 15Qe+ 30Qm= 3000. Now answer the following questions. I. Draw the budget line for Mega PartnerII. What would be the highest amount spend on Marker with the existing budgetIII. If Total budget increases to 4500 what would be the new budget line (use diagram)IV. If Price of the Marker becomes 15, how this changes the existing budget line keeping allthe values remain same.
5. Draw a Production Possibilities Graph for Toyota using the following information: A В C D E F G Trucks 20 28 35 40 43 45 Cars 54 52 49 43 35 25 Plot the combination with 30 cars and 40 trucks and label it “Y." Plot the combination with 40 cars and 50 trucks and label it "X." Explain what is happening at these points.
K Suppose you own an outdoor recreation company and you want to purchase all-terrain vehicles (ATVs) for your summer business and snowmobiles for your winter business. Your budget for new vehicles this year is $180,000. ATVs cost $6,000 each and snowmobiles cost $9,000 each. a. Draw the budget line for your purchase of new vehicles. Use the line drawing tool to draw a budget line. Properly label this line. Place end points one on horizontal and one on vertical axes. Carefully follow the instructions above, and only draw the required objects. b. What is the opportunity cost of one ATV? The opportunity cost of one ATV is 0.67 snowmobile(s). (Round your answer to two decimal places.) c. What is the opportunity cost of one snowmobile? The opportunity cost of one snowmobile is 1.5| ATV(s). (Round your answer to two decimal places.) d. Does the opportunity cost of one ATV depend on how many you purchase? Why or why not? A The opportunity cost of one ATV depend on how many you for purchase…
-50 Eleanor and her little brother Josh are responsible for two chores on their family's farm, gathering eggs and collecting milk. Eleanor can gather 10 dozen eggs or collect 5 gallons of milk per week. Josh can gather 2 dozen eggs or collect 2 gallons of milk per week. a. The family wants 2 gallons of milk per week and as many eggs as the siblings can gather. Currently, they collect one gallon of milk each and as many eggs as they can. How many dozens of eggs does the family have per week? ‒‒‒‒ (Click to select) Edozen eggs. b. If the siblings were to specialized, which should collect the milk? (Click to select) c. If the siblings were to specialize, how many dozens of eggs would the family have per week? (Click to select) dozen eggs.
How do I graph the amount of fertilizer that needs to be added to an acre of land and the amount of corn grown on that land in a season?