A dressmaker can sew 800 garments with 160 bolts of fabric and 3,000 hours of labor. Another dressmaker can sew 800 garments with 200 bolts of frabic and 2,000 hours of identical labor. Frabric cost $80 a bolt and labor cost $10 an hour. a.) is it possible for both methods to be techically efficient? why or why not? b.) is it possible for both methods to be economically efficient? why or why not?

Q: You are a retired landowner whose Conservation Reserve Program (CRP) contract for 100 acres will…

A: The contract for 100 acres expires next year. The contract can be renewed after ten years and the…

Q: Question-3 (Finding optimal bundle) utility functions and budget constraints. 1. U (₁, ₂) = 3x₁ +2r2…

A: An optimal bundle is the combination of two goods that provide a consumer with the highest utility…

Q: Because Zambia participates in international trade in the market for soybeans, it will import   tons…

A: Here we have to calculate the import quantity of soyabean before and after the imposing tariff of…

Q: The equations below correspond with questions #1 - 2 below and describe the costs of a profit…

A: According to the economic theory of perfect competition, a market structure in which an abundance of…

Q: The nearby graph shows Claudia's budget constraint for purchases of shoes and purses. Claudia's…

A: A budget line is the graphical representation of different combinations of goods to be purchased for…

Q: A firm uses two inputs, X1 and X2, to produce a good that is described by the production function: Q…

A: The production function is given as The price of the goods are $80 each. The cost for input for the…

Q: is this statement true or false? and the explanation to why? Manufacturing highly standardized…

A: Highly standardized products are items manufactured with minimal diversity, adhering rigorously to…

Q: Given the following utility functions for Consumer A and Consumer B and their budget contraints: UA…

A: There are two individuals :  A & B Utility function of A : Ua  =  X0.5Y0.5Utility function of B…

Q: Use the following information to answer the next six questions. The accompanying graph depicts the…

A: Price Discrimination:Price discrimination is a pricing strategy where a seller changes different…

Q: The satisfaction that comes from making a choice or consuming a good or service is called focus…

A: The subject of economics focuses on how societies distribute scarce resources to meet seemingly…

Q: What are the main differences between a perfectly competitive market and a monopoly.

A: Understanding market structures is crucial on the grounds that they straightforwardly influence…

Q: one-to-one matching

A: Stable matchings discuss pairings between people in a matching scenario wherein there are not any of…

Q: In the period of 1950-1973 the GDP average growth rate reached 9.3 % in Japan and approximately 4 %…

A: The new growth theory states that humans in any country have a desire to increase and be productive…

Q: A competitive industry consists of identical 100 producers, all of whom operate with the identical…

A: A perfectly competitive firm is a price taker, it means a firm takes the price set by the market…

Q: Which one below is FALSE for economic theories or models. Select one: O a. They are generalizations…

A: Economic theories are conceptual frameworks that aim to clarify and comprehend how agents,…

Q: a) The market research department of Lamex Enterprises has determined that the demand for good X is…

A: iii) Demand(DD) is the quantity(Q) of a service or product that buyers are ready and prepared to…

Q: Use a spreadsheet to trace out the pattern of adjustment of Yt towards its new equilibrium value in…

A: Equilibrium in the economy is attained at the level where the income level is equal to the sum of…

Q: Consider the payoff matrix at right. O A. The pair of strategies high output -high output is the…

A: Imagine you and a friend run two companies, let's call them A and B. You both have two choices:…

Q: How does DMCA relate to Napster? https://www.youtube.com/watch?v=VrLSWqaFTKE

A: The film states that,, in order to combat online copyright infringement, the Digital Millennium…

Q: The table below represents costs for producing pairs of sunglasses. Calculate the marginal cost of…

A: Total cost(TC) refers to the overall expense incurred by a firm in the production of services or…

Q: Health and services are central to budgeting across the public sector. Housing Education None of…

A: The process by which a government plans, distributes, and monitors its financial resources is known…

Q: The Current Population Survey reports the data for last month: 73 million people had full-time jobs.…

A: The objective of the question is to calculate the labor force and the working-age population based…

Q: Two neighboring countries, i= 1,2, simultaneously choose how many resources (in hours) to spend in…

A: The Nash equilibrium refers to the situation where firms independently choose their production…

Q: Your company will generate $63,000 in annual revenue each year for the next seven years from a new…

A: The company is expected to generate $63000 in annual revenue each year, The time span is 7 years.…

Q: Please don't use AI to solve, if you don't know ignore the problem

A: Production  function :

Q: What are the possible effects of a high unemployment rate on a country's economy? Note:- Do not…

A: The objective of this question is to understand the potential impacts of a high unemployment rate on…

Q: Which of the following contribute to the natural rate of unemployment? Instructions: You may select…

A: The natural rate of unemployment is the level of unemployment that the economy tends to return to in…

Q: The diagram shows a pharmaceutical firm's demand curve and marginal cost curve for a new heart…

A: Ans. ) Below is the answer to the question...Explanation:Ans. ) Given the graph of a pharmaceutical…

Q: Q. STIHL, Inc., manufactures gasoline-powered chain saws for professional, commercial, farm, and…

A: A single seller market decides its own price is called a monopoly market. The marginal revenue is…

Q: 1. This question will let you examine/explore a more interesting utility func- tion than the simple…

A: The Income Consumption Curve (ICC) is a graphical representation used in economics to illustrate the…

Q: sssy In a sample of 134 ball bearings, the average diameter was found to be 3.78mm with a standard…

A: The objective of the question is to find the point estimate for the population variance of the…

Q: derive the balanced budget mulitplier in the IS-LM model and explain why its value differs from that…

A: The Balanced Budget Multiplier (BBM) concept within the IS-LM framework and the Simple Keynesian…

Q: profit is calculated based on Because better decisions about costs, it allows firm owners to make…

A: The term "economic" describes issues pertaining to the creation, exchange, and use of products and…

Q: Assume a closed economy: Y=C+I+G In the Keynesian Cross model, as in the slides, assuming the…

A: Keynesian Cross Model assumes that the initial autonomous expenses on the three major components of…

Q: It's the year 2023 and you are the manager at a local brew pub here in Fayetteville. You are one of…

A: Revenue refers to the total income generated from the sale of goods or services by a business over a…

Q: A company that produces healthcare services (patient visits) operates with the following production…

A: The production function is the equation that shows how the quantities of inputs combine to produce…

Q: a construction company is bidding on a project whose costs are divided into $30,000 for start-up and…

A: The objective of the question is to calculate the present worth of the costs for a construction…

Q: what is microeconomics is it more applicable ro everyday life

A: Microeconomics is the branch of economics which deals with micro aspects of economy like consumption…

Q: Use the graph below to calculate the price elasticity of demand between $20 and $18. Remember to…

A: The demand(DD) curve illustrates the correlation between the price(P) of a service or product and…

Q: Among the following based on the Heckscher-Ohlin two good and two factor good model, the countries…

A: A key concept in international trade economics is the Heckscher-Ohlin model, sometimes referred to…

Q: Duopoly and menu costs. (This is adapted from CaminaI 1987.) Consider two firms producing imperfect…

A: Duopoly denotes a market scenario where two firms hold significant market share, engaging in…

Q: $ $40 $35 $30 $25- $20- $15 $10- $5 Figure 9.4.2 $20. 100 200 300 400 500 600 700 800 900…

A: Government payment is the transfer of payment to individuals, organizations, and the government…

Q: On the following graph, the black line shows potential real GDP and the blue line shows actual real…

A: Full employment is the economic state of using all the resources available in the market. It…

Q: Reproduce the diagram for the Robinson Crusoe economy for a firm that has constant returns to scale.…

A: The Robinson Crusoe economy considers a manufacturing firm and a consumer. The consumer himself is…

Q: An automobile repair shop charges the competitive market price of $16 per bike repaired. The firm's…

A: Perfect competition is a market form with a high number of buyers and a high number of sellers.…

Q: Explain in your own words how you believe the Jamaican Government could use taxation to create…

A: The Caribbean economies relies heavily on key sectors such as travel and tourism, international…

Q: Assume Marco is initially borrowing and investing 100, with a return on investment of 50% and an…

A: Investment and borrowing are the key ways through which individuals and businesses try to reach…

Q: Suppose the world price of wood pulp falls substantially. The demand for labour among wood…

A: Equilibrium refers to a fluctuating situation in which market adjustment occurs. A steady pricing is…

Q: As in the previous question, use the numbers and figure three to determine the producer surplus and…

A: Consumer surplus is the benefit that the customer receives from purchasing the commodity at a price…

Q: 4. Assume that a risk-free money market account is added to the market described in Q2. The…

A: As requested below is the solution for question 4Requirement (i)Let x1 =The proportion of wealth…