Use the graph below to answer questions 7 through 10. Can Openers 14,000 12,000 Cs 10,000 8,000 6,000 PIF 4,000 PEF 2,000 5 6 7 8 Drill Presses 2 3 4 1 On PPF1, all of the following output combinations are currently attainable except: 12,000 can openers and 0 drill presses. 10,000 can openers and 6 drill presses. 4,000 can openers and 0 can openers and 7 drill presses. 7. а. b drill presses. ffccnt C. d. On PPF1, the opportunity cost of the 7th drill press is approximately 4,000 can openers. 8. 8,000 d. 6,000 b. 2,000 C. а. An increase from PPF1 to PPF2 makes it possible to produce approximately additional can openers if 7 drill presses are 9. produced. 5,000 d. 7,000 4,000 b. 2,000 C. а. 10. All of the following events would lead to a shift from PPF1 to PPF2 except: Improved technology An increase in the size of the labor force A decrease in the capital stock caused by depreciation of machines and tools Greater investment in education leading to a more а. b. C. d. productive workforce

Use the graph below to answer questions 7 through 10. Can Openers 14,000 12,000 Cs 10,000 8,000 6,000 PIF 4,000 PEF 2,000 5 6 7 8 Drill Presses 2 3 4 1 On PPF1, all of the following output combinations are currently attainable except: 12,000 can openers and 0 drill presses. 10,000 can openers and 6 drill presses. 4,000 can openers and 0 can openers and 7 drill presses. 7. а. b drill presses. ffccnt C. d. On PPF1, the opportunity cost of the 7th drill press is approximately 4,000 can openers. 8. 8,000 d. 6,000 b. 2,000 C. а. An increase from PPF1 to PPF2 makes it possible to produce approximately additional can openers if 7 drill presses are 9. produced. 5,000 d. 7,000 4,000 b. 2,000 C. а. 10. All of the following events would lead to a shift from PPF1 to PPF2 except: Improved technology An increase in the size of the labor force A decrease in the capital stock caused by depreciation of machines and tools Greater investment in education leading to a more а. b. C. d. productive workforce

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 a local developer has built 24 houses so far this year at a total cost to the company of $4.8 million. If the company builds the 25th house, its total cost will increase to $5 million. Which of the following is correct? - all of the above - the marginal cost of the 25th house, if it is built, will be $200,000 - if the company can sell the 25th house for $250,000, then it should build it - for the first 24 houses, the average cost per house was $200,000
Please answer the coordinates.
Complete the following table. Missing values are denoted by a number inside parentheses (X). Place your answers in the corresponding numbered fields below the table. Quantity FC VC TC AFC AVC ATC MC 0 144 0 (1) 1 2 3 4 --- --- (2) (3) 179 (4) (5) (6) (8) (9) (10) (11) 30 (14) (15) (16) (17) (18) (19) 15 (20) (21) (22) (23) (24) 60 (25) (7) m (12) (13)
The LEGO Architecture Collection includes three items: the White House Model Building Kit (at $80 per kit), the U.S. Capitol Building Kit (at $40 per kit), and the Mar-a-LEGO Club Building Kit (at $20.24 per kit; empty classified document folders are extra). Total costs of production for different quantities of each item are given below. a. WHITE HOUSE Output per day 0 100 200 300 400 500 600 White House U.S. Capitol Total cost Mar-a-LEGO 1600 5000 11000 18000 27000 40000 55000 U.S. CAPITOL Output per day 0 10 20 30 40 50 60 Total cost 100 400 750 1120 1510 1920 2350 MAR-A-LEGO Output per day 0 100 200 300 400 500 600 If LEGO's goal is profit maximization and the cost of production schedules cannot be altered, what quantity of each item should be produced in the short run? Total cost 2000 3500 5500 8000 11000 14200 15000 b. Above what market price (to the nearest penny) should LEGO begin producing Mar-a-LEGO kits? That is, what is the "shutdown price" for Mar-a-LEGO kits?
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can you help me solve and give me step by step how you did it, i believe the answer is c=786.6
please read the question carefully as there are multiple questions with the same graphs that is shown on the image
What is the marginal cost forumla for TC= 10+5Q?
Suppose that the firm Smith Co sells 400 blouses per month for $80 per blouse. Roberto, the owner of the business and does not take salary from her business yet. Roberto is a textile engineer by trade and could be earning $ 4800 per month working for a similar firm. The monthly costs of production are as follow: materials: $ 8000 labor: $12800 other: $1600 What is are Smith Co's total explicit costs? $ What is are Smith Co's total implicit costs? $ What is Smith Co's accounting profit? $ What is Smith Co's economic profit? $ ID - -> -
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Given the following functions for shoe factory in Ohio: fi: Qa=2(90-P) 1 P==Qs 4 Where Q is quantity and P is price. fz given is the Marginal Cost for the shoe factory but this producer often dumps left over materials such as glues and dyes directly into the sewer effecting ground water in the nearby town. An expert in the field discovered that the marginal damage is a constant $9. 1. What is the social marginal cost (show all working)? 2. What is the new equilibrium when pollution damage is taken into consideration for this market? 3. What is the total surplus when accounting for the damages? (Evaluate at the SMC level) - Draw the diagram and label. 4. What is the Deadweight loss for the pollution in the event that the producers do not pay for the damages? (Identify the DWL on your diagram) 5. What is the Total Social Surplus taking damages into account?
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