Chip and Joanna are building a new home. Chip can cut 24 pieces of lumber or paint 4 rooms in a day. Joanna can cut 18 pieces of lumber or paint 2 rooms in an hour. Use this information to answer the following 4 questions. dap ca Palne 5. What is Chip's marginal cost of painting a room? a. 2 pieces of cut lumber b. 4 pieces of cut lumber c. 6 pieces of cut lumber d. 9 pieces of cut lumber chp 24 よ

Q: Mowgli and Baloo like to catch fish and pick bananas. Some information about their productive…

A: Opportunity cost is what you sacrifice in order to get one goods of another opportunity.

Q: 9. The cost of one thing in terms of the alternative given up is called A. O Real cost B. O…

A: The cost of one thing in terms of the alternative given up is known to be as the Option(d) is…

Q: Monica has spent $30 000 purchasing and repairing an old cabin, which she expects to sell for $40…

A: Monica purchased an old cabin for $30,000 She discovered that an additional repair of worth $20,000…

Q: your microwave breaks. you originally paid 100 for the microwave. Amazon sells the same. microwave…

A: Meaning of Opportunity Cost: The term opportunity cost refers to the situation under which the…

Q: How do personal issues affect an entrepreneur's business?

A: The person who starts a business and is in turn willing to incur losses and risks for making money…

Q: a. Use the table below to graph & label a Production Possibilities curve on the grid below Popcorn…

A:

Q: The following graph is the production possibilities curve of a nation. 10 B 9. 8 7 6 5 D 4 2 %3D %3D…

A: The economics as a study is based upon the idea that the economies around the world have a limited…

Q: Emmanuel likes gardening. He grows zucchini that he sells at the local farmers' market Th costs…

A: Answer: Marginal cost: It refers to the additional cost incurred by giving an additional hour to…

Q: Mowgli and Baloo like to catch fish and pick bananas. Some information about their productive…

A: ANSWER     1) are here to sacrifice the opportunity cost in order to get one desired. goods by…

Q: Barb and Jim run a business that sets up and tests computers. Assume that Barb and Jim can switch…

A: The opportunity cost of an action is measured in terms of the value that could have been generated…

Q: Pls help with below homework -) Fill in the blank : "When my sister paints the walls and I do the…

A: Here when both the siblings are taking different type of work in their hand then their efficiency…

Q: Imagine that you are a barber in a world withoutmoney. Explain why it would be tricky to…

A: Bartering is based on the following basic concept: two people discuss the relative value of their…

Q: A restaurant offers an "all you can eat" lunch buffet for $10. Shawn has already eaten three…

A: The marginal analysis is based on the utility gained from consuming an additional unit of the good.…

Q: Please give detailed instructions on how to graph electronically using MS ppt, excel, google slides,…

A: Production possibility frontier shows different bundles of the two goods that can be produced using…

Q: they did by lottery-for free. That left 53,000 New Yorkers without tickets. It was a scalper's…

A: *Answer:  (a) At the church-set price of $0 per ticket, quantity demanded was 93,000 tickets while…

Q: Labor required Capital required (person-hours) 200 Method (machine-hours) Т-1 100 Т-2 150 150 Т-3…

A:

Q: Rhonda Tabitha's Production Possibilities Hours Required for 1 Unit d then we can split our goods e…

A: ‘Opportunity cost’ refers to the ‘forgone benefit’ that can be derived from choosing another…

Q: MCQ 2 The production possibility frontier shows: A the marginal cost attached to the production of…

A: Production Possibility Frontier is the locus of different combination of two goods that an economy…

Q: As an economist it is important to know that resources are scarce. Explain what u understand that…

A: Time, money, labour, equipment, land, and raw materials are all limited resources. There are never…

Q: 4. A decision at the margin Edison is a hard-working college sophomore. One Tuesday, he decides to…

A: Marginal gain the additional number of problems solved by employing an additional hour to problem…

Q: monetary cos

A: Monetary cost of a product is the amount of liquid money that the buyer has to spend on that…

Q: Kip is trying to decide whether to take a one-day martial arts class at Rex Kwan Do. The fee for the…

A: The marginal cost of joining Rex Kwan Do indicates the cost of producing an extra unit of good or…

Q: Cassian is attending a football game at the University of Georgia It's a hot and sunny day and he is…

A: Answer: Given, Cost of slushie = $4 (1). Marginal cost: it refers to the additional cost of buying…

Q: Mowgli and Baloo like to catch fish and pick bananas. Some information about their productive…

A: Disclaimer :- As you posted multiple questions we are supposed to solve only the first one.…

Q: Kip is trying to decide whether to take a one-day martial arts class at Rex Kwan Do. The fee for the…

A: The marginal cost indicates the cost of producing an extra unit of good or cost of making a…

Q: Question 3 Denise decides to spend three hours working overtime rather than watching a video with…

A: Opportunity Cost: It is the cost of the next best alternative forgone for doing an action.Denise…

Q: Which arrow reflects the tuition that Andrea pays for this Which arrow reflects the money that a…

A: The circular flow of income is a model to understand the flow of income and factors of production…

Q: Remaining "How Did I Do?" Uses: 2/5 Two groups of.students decide to start their own tutoring…

A: Total cost is the sum of fixed and variable costs.

Q: According to below Figure which of the following point is representing resources are not used t…

A: This depicts a PPF(Production Possibility Frontier). It represents a combination of goods and…

Q: A 50 40 30 E 20 10 10 20 30 40 50 Food Production What this figure represents. Explain. а. b. How…

A: Trade-off is the scenario where an individual has to forgo one good in order to gain the other.

Q: ACTIVITY: 005 A. Complete the following table using data below: FC VC AVE. TC MC OUTPUT 1. 6. 10 16…

A: Fixed cost refers to the cost incurred by the firm that is independent of the output. Whereas,…

Q: Question 4 of 10 A farmer has developed a new type of fertilizer. This new fertilizer costs 20…

A: Opportunity cost  Opportunity cost refers to the cost which is sacrificed by the producer by…

Q: Number of Total Costs of Total Benefits from Total Costs of Total Benefits from Hours Production…

A: The cost that depicts the change in total cost with respect to change in total quantity is being…

Q: 2. Neneh rents a house for which she pays the landlord $25,000 per year. The house can be purchased…

A: The information given is:- Rent paid by neneh = $25,000 Cost of the house = $250,000 Also the…

Q: 1toasters 50 43 40 35 30 25 20 15 DB 10 10 20 30 40 50 60 70 80 tootk- druskes Refer to Figure 2-4.…

A: Production Possibility Curve: This is the curve that shows the various combination of two goods that…

Q: Marginal benefit and marginal cost (dollars per swim) 50 MC 40 30 20 10 MB D В 4 5 Manatee swims…

A: Allocative efficiency refers to a situation where price of a particular good is equal to the…

Q: Sven runs a daycare for some of the neighborhood children, where he earns $300/day in revenue. He…

A: Here, some information about revenue band cost related to Sven's daycare job.

Q: Stephanie has $200 left over this week, and she wants to contribute to a charitable cause. She can…

A: As per the guidelines, we only answer one question at a time. Please resubmit the other…

Q: 4. A decision at the margin Darnell is a hard-working college freshman. One Thursday, he decides to…

A: Answer: Formula to be used: Marginal gainn+1=Total gainn+1-Total gainnWhere,Marginal…

Q: a. When three pens and four erasers were purchased,the cost was $21.25.When two pens and two erasers…

A: Note: In the BNED Guidance, only the first question can be answered at a time. Resend the question…

Q: . Buffy is thinking about opening an amulet store. Sheestimates that it would cost $350,000 per year…

A: As the resources are limited and have alternative uses, people always have to trade off one thing to…

Q: Country JKL has a maximum of 50 labour(hours). The tab shows maximum quantity of wheat and cotton…

A: Production possibilities shows all such combinations of output of two goods that can be produced…

Q: Select one: O a. Traditional land line phones become more expensive. O b. Cellular phones become…

A: *answer:    A price ceiling is a maximum price can a seller charge. it is binding if it is below the…

Q: Hours Playing Video Games Total Benefit Marginal Benefit Total Cost Marginal Cost 0. 1 $20 MB1 $7…

A: Marginal benefit can be computed as: Marginal benefit = total benefit from pervious unit - total…

Q: According to the below table, which of the following combinations of wheat and beef could Andrea…

A: According to the information given in the table, Andrea can produce 1 kg of wheat in 30 mins and can…

Q: a) Discuss the following (Draw neat and labelled diagrams wherever necessary) i. Normal and Inferior…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…