According to below Figure which of the following point is representing resources are not used t Blankets 360 30 20 240 200 130 40 30 60 90 120 150 180 210 240 270 300 330 Pillows Select one a.G b.T C.F
Q: D Bread Refer to figure above. An illustration of the concept "opportunity cost" can be depicted by:…
A: The production possibility curve (PPC) shows the combination of two goods (Bread and Wine in this…
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A: Meaning of Opportunity Cost: The term opportunity cost refers to the situation under which the…
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A: In economics, resources refer to the items that provide benefits to the people directly or…
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A: Economists are eager in finding out how the resources are allocated or how optimization of resources…
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A: Production Possibilities Curve (PPC) is the curve which shows the production combinations of two…
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A: Opportunity cost refers to decrease in quantity of one good needed to have more of other good. It is…
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A: The opportunity cost is that cost which must be given up to get something desirable.
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A: Production possibility frontier shows different bundles of the two goods that can be produced using…
Q: How do I solve the following problem?
A: We will use profit maximisation techniques to solve this question.
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A: Opportunity cost is the benefit that might have been gained if a different available alternative had…
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A: Time, money, labour, equipment, land, and raw materials are all limited resources. There are never…
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A: The opportunity cost is the cost of choosing one option over another.
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A: The production possibility curve, abbreviated as PPC, depicts various combinations of products that…
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A: Opportunity costs are the costs incurred when choosing next best alternative
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A: Effective refers to the ability to complete the objective. Efficient refers to completing the task…
Q: List the four factors of production
A: Factors of production are the economic inputs utilised to generate profits. Land, labor, capital,…
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A: here we calculate how many cakes we would need to give up to produce one cookie by the following…
Q: 1. The table below shows three possible combinations that use the least amount of resources needed…
A: The production function illustrates the relationship between the quantity of output produced and the…
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A: Difference between Marginal Benefit and Marginal Cost,
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A: Comparative advantage refers to the ability to produce a specific good for a lower opportunity cost…
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A: Opportunity cost measures the trade-off between two goods i.e. it measures what we give up to obtain…
Q: ny units of X can be produced whe s are utilized in its production
A: Since you have asked multiple questions we will answer the first one for you. When only two goods…
Q: What is a marginal cost? (in detail)
A: The Marginal cost is an additional cost of producing an additional unit of an output. In other…
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A: Production possibility frontier shows the combination of two goods that can be produced with the…
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A: Wants is something that is desired and it is unlimited. Wants can be satisfied by consuming goods…
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A: Opportunity cost is the next best alternative forgone. If I aim to view a cricket match, my…
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- Will all the oppotuniy cost be 1 im so confused Calculate the opportunity cost of producing the first 10 and the last 10 missiles. Missiles vs. Milk (millions of gallons) 0 4010 3020 2030 1040 0Please no written by hand and no image SEU ELITE - ECON101 Question 8 The table below shows the marginal benefit that Yahya earns from keeping his store open one more hour. Yahya has a marginal cost of $100 per hour. Yahya stays open 8 hours. Hours {:[" Marginal Benefit Per "],[" Hour "]:} 8 180 9 150 10 140 11 120 12 100 13 80 14 50 a) Do you think Yahya's decision to stay open 8 hours is optimal? Why? b) How many hours do you advise Yahya to stay open? Why?Intermediate MicroeconomicsProblem Set 10.Submission options:• in person during lectures or TA sessions;• in Xiaoye Liao’s mail box at 19 West 4th, 6th Floor;• (less recommended) e-mail Xiaoye Liao atxl775@nyu.edu– in that case, be sure to use the subject line: “Submission Problem Set 10â€.Exercise 1Consider a game of rock-scissor-paper. There are two players, player 1 and player 2,and the winner receives $1 from the loser (if they draw, nothing happens). They playthis game simultaneously.1. What kind of game is this? Express this game in normal form.2. What are the set of possible actions and strategies?3. Find all Nash equilibria of this game.Exercise 2Consider a game represented by the following payoff matrix. Find all pure strategyNash equilibria. UMD LCR?10, 0 ?10, ?1 ?10, ?1?8, ?8 0, ?102, ?14, 57, ?101, 1 Exercise 3Consider a game represented by the following…
- Suppose you are in charge of snow removal in your community and you are trying to figure out if you should clear snow on a street. You survey the 20 people that live on that street who say they they each value having snow cleared on their street at $50 per year. The snow removal only costs $600 per year so you hire a snow plow and clear the snow that winter. When you ask for donations to pay for the snow removal you only receive $80. What does this result show? a The people on that street were free-riders. b The snow removal suffered from the Tragedy of the Commons problems. c The snow removal cost must have been greater than their economic benefit. d You must have overestimated the value of a fireworks show. Please suggest me right answer with explanationAlyssa’s Custom Cakes currently sells 4 birthday, 3 wedding,and 2 specialty cakes each month for $45, $155, and $105each, respectively. The cost of labor is $50 per hour (includ-ing benefits) and it takes 90 minutes to produce a birthdaycake, 240 minutes to produce a wedding cake, and 60 min-utes to produce a specialty cake. Alyssa’s current multifactorproductivity ratio is 1.30.a. Use the multifactor productivity ratio provided to calcu-late the average cost of the cakes produced.b. Calculate Alyssa’s labor productivity ratio in dollars perhour for each type of cake c. Based solely on the labor productivity ratio, which cakeshould Alyssa try to sell the most?d. Based on your answer in part (a), is there a type of cakeAlyssa should stop selling?Imagine a scenic canyon, visited by many local people as well as tourists from beyondthe local area. Consider a scenario in which a mining company has proposed to the localauthority that it be closed to the public and put into the production of coal. Thinking interms of economics as a way of adjudicating the relative value of one use of the canyon overthe other, what would you need to know in order to make a comparison or assessment?What kinds of quantitative data would inform your decision, and where might they comefrom? What kinds of things might you need to know that are hard to measure? Once youhave listed the kinds of information and data that might be available to inform this decision, do you think it would be sufficient to making this decision, why or why not?
- Lecture: 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…Which of the following are signals to the owners of scarce resources about the best uses of those resources? A. Profits of businessesB. Government regulationsC. Economic indicatorsD. The accounting cost of those resourcesSuppose you have inherited a few acres of landfrom a relative and you are considering what to dowith your inheritance. A farmer with land next toyours offers to buy your acres so he can expand hisgrazing area. How will you decide whether to sellyour land to the farmer? What factors should youconsider?
- A4 1. Two chemical companies, A and B, operate in a small New England town. Every week A releases 40 gallons of dioxin into the town’s aquifer, while B releases 30 gallons during the same time frame. It would cost A $800 per gallon to clean up its production, while B can clean up its waste at a cost of $500 per gallon. After this issue is raised at a town hall meeting, the town’s residents vote to reduce total dioxin pollution to 20 gallons per week. a. What would be the total cost of pollution reduction if each company were limited to 10 gallons of waste per week? b. What would the total costs be if each company received 10 gallons worth of tradable pollution credits? 2. A wheat farmer and a cattle rancher occupy adjacent parcels of land. Every year the farmer builds a fence to keep the cattle out of his field, and every year the rancher tears the fence down so that the cattle can roam free. The farmer values the wheat that gets destroyed at $300, while the rancher values having a…Suppose a Farmer has a fixed resource of 80 acres planted in corn. If the farmer does not cultivate the cornfield (clear the weeds) at all, the yeild will be 40 bushels per acre. If he cultivates the land onece, putput may rise to 50 bushels per acre. A second cultivation may increase output to 57 bushels per acres, a third to 61, and a fourth to 63. What will succeeding cultiation do?Can you continue to the otherremaining please.Union of South American Nations (USAN)How these RO are affected and responded to the COVID 19 pandemic.