COHomework1 (1) (Compatibility Mode] - WordMason B. WohlfeilLayoutReferencesMailingsReviewViewHelpO Tell me what you want to doP Find-- A A Aa- AE EE-EE ATAaBbCcI AaBbCcI AaBbC AaBbC AaBbCcD AaBbCcL AaBbCcL AAB6CCLx A-空-A. .凸.田ab ReplacA Select1 Normal 1 No Spac. Heading 1TitleSubtitleSubtle Em. EmphasisIntense E.ParagraphStylesEditing3) What would a straight-line production possibilities frontier between grape juice and applejuice on Fruity Goodness Orchards say about opportunity costs? (1 point)4) Use economics to explain why people smoke even though they know smoking is not good totheir health? (2 points)+ 100%1:44 AMw]001/22/2021lyp曲num ik7.8.6.backspace$&%3D4568.9.5.6.

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What would a straight-line production possibilities frontier between grape juice and apple juice on Fruity Goodness Orchards say about opportunity costs? (1 point)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Draw a production possibility frontier. The vertical axis shows theproduction of public sector goods and the horizontal axis showsproduction of private sector goods. The economy is currentlyproducing at point A on the frontier where 50 per cent of allproduction is devoted to public sector goods and 50 per cent toprivate sector goods.(a) Mark the following points on your drawing.(i) Point A.(in) Point B which shows production following the election of agoverment which increases government spending on botheducation and the National Health Service.(ili) Point C where unemployment is present in the economy.(iv) Point D where the government takes over production of allgoods and services in the econory.(b) Draw another diagram putting on it the original productionpossibility Frontier you drew for (a), labelling it AA.(i) Draw a new production possibility frontier on the diagram,labelling it PP, which shows the position after a devastatingwar has hit the economy.(in) Draw another PPF…
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3. Opportunity costs are considered to be sunk fixed costs rather than an avoidable cost.(a) True(b) False
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I WANT C AND D. is assumed that there exist two goods x and Z.P and PPF represent production PF possibility frontier of domestic and foreign countries. According to the below figure, please answer the following question. (a) Before international trade, please explain the choice for individual country. (b) After international trade, please explain which goods each will specialize in. (c) Please derive the relative supply of X goods in terms of Z. (d** Bonus) If there exist an unlimited numbers of counterparts in the world, what does the relative supply of X goods look like? ( please simply explain the reason)country 2. It is assumed that there exist two goods X and Z. PPFH and PPFF represent production possibility frontier of domestic and foreign countries. According to the below figure, please answer the following question. Z PPFH PPFF X (a) Before international trade, please explain the choice for individual country. (b) After international trade, please explain which goods each…
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Imagine you have access to a technology that allows you to instantaneously travel toa McDonald’s in any country in the world. For each of the scenarios below, answerwhether it makes you more or less likely to buy a Big Mac in the United States.5(a) Brazil places tariffs on US products, limiting imports from America.(b) The US becomes a much riskier place to invest because of widespread politicalunrest.(c) Firms in the UK become much more profitable than those in the US.(d) The global economy surges, sparking higher consumption everywhere in the world.(e) Japan’s central bank cuts interest rates in that country.(f) Mexico’s firms do a much better job of marketing their products to the UnitedStates.
#1- Fundamentals 11 ints Print References Mc Emmanuel enjoys growing zucchini in his garden and then selling his produce at the local farmers' market. The table below shows his marginal benefit and marginal cost for each hour he spends in his garden per week. Emmanuel's Marginal Benefit and Marginal Cost of Gardening Hours Marginal Marginal Benefit Cost (dollars) (dollars) $33 $15 30 18 27 21 24 24 21 27 18 30 15 33 Spent Gardening 1 2 3 4 5 6 7 a. Given the information above, what is Emmanuel's optimal amount of time spent gardening each week? O 5 hours O 3 hours O 2 hours 4 hours b. If Emmanuel were to spend 1 hour each week gardening: the marginal benefit would exceed the marginal cost by $18. the marginal cost would exceed the marginal benefit by $18. the marginal benefit would equal the marginal cost. the marginal benefit would exceed the marginal cost by $24. c. If Emmanuel were to spend 6 hours each week gardening: the marginal benefit would exceed the marginal cost by $12. the…
12) Job A) specification B) rotation C) enrichment D) enlargement E) sharing occurs when two people do one job. 12)
R Imagine that it costs $40 in the United States to produce one ton of soybeans and transport them to market, while it costs $30 in Brazil to produce one ton of soybeans and transport them to market Imagine that it costs $20,000 in the United States to produce one automobile and transport it to maket, while costs $10,000 in Brazil to produce one automobile and transport it to market. Which of the following four arrangements would be most efficient? (Hint: Derived OC from PPF (production) = 1/OC derived from costs to make ) a. The United States should produce everything, since it can produce both soybeans and automobiles better than Brazil can produce them. Ob. Brazil should specialize and produce only automobiles. The United States should specialize and produce only soybeans. Then the two countries should trade with each other. Brazil will send automobiles to the United States, while the United States sends soybeans to the Brazil. Oc. The United States should specialize and produce…
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