1. Suppose Worker A and Worker B produce knives and forks. Worker A has to work for 2 hours to produce a knife and for 5 hours to produce a fork. Worker B needs 10 hours to produce a knife, but only 1 hour to produce a fork. Every day, each Worker devotes 20 hours to the production of the two kitchen utensils. Use this information to answer the following questions. a. How many hours does Worker A need to produce 5 knives? How many hours does Worker B need to produce 5 knives? b. How many forks can Worker A produce in 1 hour? How many forks can Worker A produce in 10 hours?. c. Assuming Worker A only works on knives, how many knives can he produce in 20 hours? Assuming Worker A only works on forks, how many forks can he produce in 20 hours?

1. Suppose Worker A and Worker B produce knives and forks. Worker A has to work for 2 hours to produce a knife and for 5 hours to produce a fork. Worker B needs 10 hours to produce a knife, but only 1 hour to produce a fork. Every day, each Worker devotes 20 hours to the production of the two kitchen utensils. Use this information to answer the following questions. a. How many hours does Worker A need to produce 5 knives? How many hours does Worker B need to produce 5 knives? b. How many forks can Worker A produce in 1 hour? How many forks can Worker A produce in 10 hours?. c. Assuming Worker A only works on knives, how many knives can he produce in 20 hours? Assuming Worker A only works on forks, how many forks can he produce in 20 hours?

Name: Hi can you solve my question you have all the specific data rn i know
Uploaded: 2022-12-02T21:52:30.000Z
Channel: Bartleby
Description: Hi can you solve my question you have all the specific data rn i know it has some options but if you can all of them ill appreciate 1. Suppose Worker A and Worker B produce knives and forks. Worker A has to work for 2 hours toproduce a knife and for

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 42P: A small company that shovels sidewalks and driveways has 100 homes signed up for its services this...

See similar textbooks

Similar questions

Suppose you have a team of two workers: one is a baker and one is a chef. Explain why file kitchen can produce more meals in a given period of time if each worker specializes in what they do best than if each worker tries to do everything from appetizer to dessert.
Republika UPLB has 50 workers. It produces only coffee and white cheese. The production of these two goods has the following labor requirements. Coffee Output 60 56 48 36 20 0 Labor Requirements 50 40 30 20 10 0 White Cheese Output 0 2 4 6 8 10 Labor Requirements 0 10 20 30 40 50 If Republika UPLB is producing 48 units of coffee and 2 units of white cheese, is it using its inputs efficiently?
12. What are the four factors of production? Thanks asap do it
There was once a tree on the Campus of Benedict College that students labeled the “Dummy Tree.” This was done because students that were often seen under the tree were considered to be wasting their very valuable time. Therefore, this tree was attributed with contributing to the bad grades of those students that were constantly under the tree. Let’s say that a student spent 4 hours a week under the tree and was supposed to spend 15 hours a week in class. Further suppose that this particular student made some new friends through out the semester that are bad influences. They were able to convince him to hang out longer under the tree. So now he is under the tree 7 hours a week. What happened to his class time? Show a production possibilities model that may have demonstrated this student’s behavior. Do not forget to include opportunity costs in your analysis.
1.Explain how a firm uses resources price and value data to determine the appropriate combination of capital and labor resources to use in order to maximize profits. 2.how does this change when the firm want to produce a specific quantity of product with the least cost combination of resources? 3. if a software firm estimates that the MP of labor is 3 apps per month and the price is labor is $1100 per month, while the MP of capital is 5apps per month and its price is $2000, should the firm hire more labor and decrease its capital use or increase its use of capital and use fewer labor resources?
0. Radioco manufactures two types of radios. The only scarce resource that is needed toproduce radios is labor. At present, the company has two laborers. Laborer 1 is willing towork up to 40 hours per week and is paid $5 per hour. Laborer 2 will work up to 50 hoursper week for $6 per hour. The price as well as the resources required to build each type ofradio are given in the Table. Letting xi be the number of Type i radios produced each week,Radioco should solve the following LP:a) For what values of the price of a Type 1 radio would the current basis remain optimal?b) For what values of the price of a Type 2 radio would the current basis remain optimal?
3. What are the 2 variables that the Production Function is analyzing/graphing? Why does the production function diminish over time?
In 2012, an estimated 7.8 million Mexican-born immigrants were employed in the United States. a. If 60 percent of the Mexican-born immigrants remitted money to family members in Mexico in 2012, and if they each sent $100 per month, how much money did they remit in total? b. If, instead, 100 percent of the Mexican-born immigrants remitted money to family members in Mexico in 2012, and if they each sent $250 per month, how much money did they remit in total? c. The actual amount remitted to Mexico in 2012 by Mexicanborn immigrants living in the United States was about $23 billion. If we assume that 75 percent of the Mexicanborn immigrants remitted money to Mexico that year and if we further assume that each of those immigrants remitted an equal amount each month, how much per month did each of those immigrants have to remit to total $23 billion for the year?
Define factors of production and describehow they contribute to output.
ASAP!! ANSWER PLEASE Suppose there are only two commodities that can produced in an economy, computers and cycles. If the producer decides to produce one more cycle then why does it cost more to produce the second cycle than to produce the first one, assuming that the cycles are identical? Elaborate your answer using the concept of Production Possibility curve
Consider the production productivity matrix of two goods from the US and India: United States of America India Labor force 200 800 Labor per unit corn 8 50 Labor per unit automobile 10 40 1. How many units of corn will the US produce should it exhaust all its labor force to produce corns? Group of answer choices 20 16 25 Not enough data 2. How many units of corn will India produce should it exhaust 3/4s of its labor force to produce corns? Group of answer choices 20 16 25 12 3. Between the USA and India, which country has a comparative advantage in the production of automobiles? Group of answer choices India USA None of the countries Not enough data 4. How many units of automobiles will the US produce should it exhaust half of its labor force to produce automobiles? Group of answer choices 20 10 25 Not enough data 5. How many units of automobiles will India produce should it exhaust all its labor force to produce automobiles? Group of answer…
18. What word do we use to refer to the amount of goods and services produced for each hour of a worker’s time?