Use the following table to answer the question below. Jorge's Production Possibilities Schedule Pounds of Green Beans Pounds of Corn 320 20 240 40 160 60 80 80 Jorge's opportunity cost of producing 1 pound of green beans is pound(s) of corn.
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- the data to ansSwer the questions that come after. Assignment Part I: Cassian is attending a football game at the University of Georgia It's a hot and sunny day and he is really thirsty so he decides to buy a slushie. Each slushie costs $4 at the concession stand. Complete the table and questions below. 1. What is the marginal cost of each slushie? 2 Calculate the marginal benefit from each slushie and answer Yes or No whether Cassian should purchase it. Should he purchase Total Benefit of Marginal Benefit of Quantity of Slushies the slushie? Yes or Slushies Each Slushie No 1 8. 2. 14 3. 18 4. 20 18 6. 13 3. What is the maximum number of slushies Cassian will purchase?What item u figure out of opportunity cost of vacation to Disney world?Complete the following table. Also find the quantity that maximizes surp Quantity Total Benefit Total Cost Marginal Benefit Marginal Cost 0 0 15 400 66.67 2200 800 26.67 50 2000 140 60 6000 100 7000 8000 33.33 150 8000 20000 Calculate the following marginal opportunity costs using the graph showing oranges and cherries a. Increasing orange production from 50 to 80 b. Increasing cherry production from 100 to 200 c. Increasing orange production by 2 d. Increasing cherry production by 30
- Use the following figure to answer the question below. Production Possibilities Frontier Corn 80 80 Green Beans The combination of 65 pounds of corn and 15 pounds of green beans is A.The following is a table that shows the production possibilities for Good X and Good Y. Type of Production Possibilities Goods A B. D. E X 2 4 6. 8. Y 30 27 21 12 a. Show these data graphically on a piece of graph paper. b. What is the cost of producing 2 units of good X? c. What is the cost of producing 6 units of good X? d. What is the cost of increasing the production of good X from 4 to 8 units? e. What is the cost of moving from combination D to A? f. Label a point F inside the PPC. What is point F imply? g. Label a point G outside the PPC. What is point G imply? h. Label a point H on the PPC. What does point H imply? i. What does it mean when the combination moves from B to E along the same PPC? j. What is the this of PPC. Explain. 45What do you mean by the production possibilities of an economy
- For the question below use the following figures which illustrate the production possibilities available to a farmer and a rancher with 12 hours of labour. For the farmer, the opportunity cost of 1 pound of potatoes is Select one: a. 4 pounds of meat b. 1 pound of meat c. 2 pounds of meat d. 0.5 pound of meatSophia ✓ 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…Use the PPF to answer the following questions: D. Hard drives A 525 E. 450 400 350 300 250 200 150 100 50 5 10 15 20 25 30 35 40 45 50 Sweaters (thousands)
- Use the following table to answer the question below. Dave's Production Possibilities Schedule Pounds of Green Beans Pounds of Corn 0 160 20 120 40 80 60 40 80 0 Dave's opportunity cost of 1 pound of corn is _____ pounds of green beans.The following table shows the production possibilities data. Farmer Rancher Table 2-3 Labor Hours Needed to Make 1 Pound of: Meat 8 4 Potatoes 2 5 Pounds produced in 40 hours: Meat 5 10 Potatoes 20 8 Refer to Table 2-3. The farmer and the rancher both could benefit if the farmer were to specialize in a. meat and the rancher were to specialize in potatoes. O b. potatoes and the rancher were to specialize in meat. c. neither good and the rancher were to specialize in both goods. O d. neither good; they cannot both benefit by specialization and trade.For the question below use the following figures which illustrate the production possibilities available to a farmer and a rancher with 12 hours of labour. For the farmer the opportunity cost of 1 pound of meat is Select one: a. 4 pounds of potatoes b. 2 pounds of potatoes c. 0.25 pounds of potatoes d. 1 pound of potatoes
