Homework Help is Here – Start Your Trial Now!
Business
Economics
Which of the following would shift an economy's production possibilities curve to the left? Select one: a. the country discovers a new energy source O b. the country experiences a major natural disaster affecting its capital goods O c. an increase in the retirement' age d. a major increase in the number of people in the labour force O e. dramatic increases in economic growth

Which of the following would shift an economy's production possibilities curve to the left? Select one: a. the country discovers a new energy source O b. the country experiences a major natural disaster affecting its capital goods O c. an increase in the retirement' age d. a major increase in the number of people in the labour force O e. dramatic increases in economic growth

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
See similar textbooks
icon
Related questions
Question

Answer quickly please

Which of the following would shift an economy's production possibilities curve to the left? Select one: O a. the country discovers a new energy source Ob the country experiences a major natural disaster affecting its capital goods C. an increase in the retirement' age O d. a major increase in the number of people in the labour force O e. dramatic increases in economic growth
Transcribed Image Text:Which of the following would shift an economy's production possibilities curve to the left? Select one: O a. the country discovers a new energy source Ob the country experiences a major natural disaster affecting its capital goods C. an increase in the retirement' age O d. a major increase in the number of people in the labour force O e. dramatic increases in economic growth
Suppose the cost of operating a 75 room hotel for a night is $6,000 and there are 5 empty rooms for tonight. If the marginal cost of operating one room for one night is $40, the hotel manager should rent one of the empty rooms only if a customer is willing to pay Oa. more than $80, as the marginal benefit will exceed the marginal cost. Ob more than $40, as the average benefit will exceed the marginal cost. O c. more than $80, as the average benefit will exceed the marginal cost. Od. more than $40, as-the marginal benefit will exceed the marginal cost.
Transcribed Image Text:Suppose the cost of operating a 75 room hotel for a night is $6,000 and there are 5 empty rooms for tonight. If the marginal cost of operating one room for one night is $40, the hotel manager should rent one of the empty rooms only if a customer is willing to pay Oa. more than $80, as the marginal benefit will exceed the marginal cost. Ob more than $40, as the average benefit will exceed the marginal cost. O c. more than $80, as the average benefit will exceed the marginal cost. Od. more than $40, as-the marginal benefit will exceed the marginal cost.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS