The total value of a full chicken is.... TABLE 1.1 Price (R) of a chicken per unit R 15.50 R 45.00 Breeder sells chicks to broiler farmer Broiler farmer sells chickens to processing plants Processing plants sell packed chickens to retailers Retailers sell packed chickens to consumer R 58.50 R 65.90 OA R 15.50 O B. R50.40 OC R184,90 OD. R 65.90 4

The total value of a full chicken is.... TABLE 1.1 Price (R) of a chicken per unit R 15.50 R 45.00 Breeder sells chicks to broiler farmer Broiler farmer sells chickens to processing plants Processing plants sell packed chickens to retailers Retailers sell packed chickens to consumer R 58.50 R 65.90 OA R 15.50 O B. R50.40 OC R184,90 OD. R 65.90 4

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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2. Dr. Mowrey plans to host a fundraising dinner after COVID to benefit the many FedEx, UPS, and Amazon delivery people who helped us survive during the pandemic (Stop judging me! Retail therapy is a real thing). She plans to sell tickets to this dinner at $15 per person. Renting the facility for the dinner costs $500 (includes the room, tables, chairs, and setup/tear down) plus $6 per person to cover the cost of food and drink. a) Define the total cost model for this problem. b) Define the profit model for this problem. How many tickets does Dr. Mowrey need to sell in order to breakeven?
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5. What will be the quantity demanded by country 1 from the rest of the world at a price of 2? (a) 6 (b) 9 (c) 12 (d) 18
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Antonio and Caroline are farmers. Each one owns a 20-acre plot of land. The following table shows the amount of alfalfa and barley each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing alfalfa or barley or to produce alfalfa on some of the land and barley on the rest. Alfalfa Barley (Bushels per acre) (Bushels per acre) Antonio 40 8 Caroline 28 7 ___________has an absolute advantage in the production of alfalfa, and __________ has an absolute advantage in the production of barley. Antonio's opportunity cost of producing 1 bushel of barley is ____ bushels of alfalfa, whereas Caroline's opportunity cost of producing 1 bushel of barley is______ bushels of alfalfa. Because Antonio has a ______ opportunity cost of producing barley than Caroline,________ has a comparative advantage in the production of barley and_______ has a comparative advantage in the production of alfalfa.
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