1.Table 1: Points X Y A 1200 В 100 900 C 200 600 300 300 E 400 0 Please put your answer in the blank. No need to show the work. a) What is the slope from point A to point В? 2.Based on Table 1, what are the opportunity costs of producing good X over Y?
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- Pls help with below homework. What is the main difference between the adaptive and the visionary approach ? Pls give atleast two examples.Imagine a country XYZ that produces only two goods—chairs and tables. Together, the chairs and tablesindustries use all of the economy’s factors of production. The table below shows the productionpossibilities for XYZ:Production Possibilities for XYZChairs Tables600 0450 150300 250150 325 0 375 use the slope (rise/run) to solve it and describe what happen A. What is the opportunity cost of increasing tables production from 250 tables to 325tables? If I solve it by using slope method (250-325)/(300-150)=-0.5 is it correct? Because we should use slope method (Y2-Y1)/(X2-X1)A. How much is the net profit using the first method? B. Which Method is better?
- don't chat gpt answer i will 5 upvotes urgent. An automobile that you own could be considered a rival good, while flood control might be a good example of a non-rival good. Select one: O True O False. Profit The revenue from sales of x units of a productis given by R(x) = 200x - 0.01x2, and the cost ofproducing and selling the product can be describedby C(x) = 38x + 0.01x2 + 16,000.a. Producing and selling how many units will givemaximum profit?b. What is the maximum possible profit from producing and selling the product?Imagine a country XYZ that produces only two goods—chairs and tables. Together, the chairs and tablesindustries use all of the economy’s factors of production. The table below shows the productionpossibilities for XYZ:Production Possibilities for XYZChairs Tables600 0450 150300 250150 325 0 375 use the slope (rise/run) to solve it and describe what happen a. What is the opportunity cost of increasing chairs production from 450 chairs to 600chairs? b. What is the opportunity cost of increasing tables production from 250 tables to 325tables?
- 13. A layperson says that a proposed government project simplycosts too much and therefore shouldn’t be undertaken.How might an economist’s evaluation be different?14. Economists say that individuals make decisions at themargin. What does this mean?15. How would an economist define the efficient amount oftime spent playing tennis?16. Ivan stops studying before the point at which his marginalbenefits of studying equal his marginal costs. Is Ivan1. A) The concept that development has to be deliberately planned as an outcome is said to be intransitive Select one: True FalseLecture: Externality - Pigou8. All-Leather is a tanning company located on Lake Michigan in Chicago. Its total cost functionis C(QA) = 125 + 8QA + 5QA2, where QA is leather production per week in thousands of pounds.a) If leather sells for $408 per thousand pounds, how much leather will All-Leather produce?How much profit does All-leather earn?Enjoy is a beverage company located on Lake Michigan near All-Leather in Chicago. Enjoy’sproduction of beverages is negatively affected by water pollution from All-Leather’s productionof leather. Enjoy’s total cost function to produce beverages isC(QE) = 10QE +3QE2 + 3QA2where QE is Enjoy’s weekly production of beverages, in thousandsof gallons and, as above, QA is All-Leather’s weekly production of leather.b) Is this an example of a pecuniary externality or a real externality? Explain.c) What is the extra cost to Enjoy from an additional thousand tons of leather production by AllLeather (i.e., the external marginal cost of an extra unit of QA…
- 5. Create a histogram of profit at the productionlevel Q. Create a histogram of profit when theproduction level Q equals mean demand. Whatis the probability of a loss greater than $100,000in each case? ■b) Discuss and explain the concept of positive return toscale showing it relationship with the quantity ofproduction.Suppose the administration of a University that is located a high-crime urban area mustdecide on a policy to increase policing on its campus. The student population is 10,500 students but iscould increase if crime is reduced. The cost of added policing in terms of additional salary and equipmentis estimated to be $2.4 million per year. Suppose the administration plans to make their decision with thehelp of a benefit cost analysis of the policy. VSL is $11.8 million a. Explain how the concept of Value of a Statistical Life might factor into a benefit cost analysis of thispolicy. b. How many lives would need to be save to justify the added policing costs if only prevented deathswere considered as the policy benefit? c. Suppose it is believed that student enrollment will increase in the future if crime on campus is reduced.Write a formula to calculate the present value of benefits of policing if student enrollment increases by4% each year.