George's household can produce Nachos and Burgers as described by the following PPF: 5N + 7B = 50 The price of Nachos is 300. Solve for the price of Burgers (round to the nearest integer).

Q: Based on the photograph of the question 2 section. if the economy is currently producing 10 bags of…

A: Opportunity cost is the forgone benefit which could have been earned by applying all the resources…

Q: Dave's opportunity cost of producing 1 pound of green beans is ______ pound(s) of corn.…

A: Total possible production of each good is Product  Green Beans = 80 Corn = 160

Q: Charles is training for a triathlon, a timed race that combines swimming, biking, and running.…

A: As per principles of economic behaviour, people made decision as per the cost-benefit analysis. If…

Q: Tom's lawn service specializes in mowing lawns and trimming bushes. Tom has 4 hours to devote to…

A: The curve that represents possible combinations of two goods that can be produced in an economy…

Q: Economic analysis is limited in its ability to forecast precise choices of a given individual…

A: Economic analysis refers to the observation and understanding of the given data to get relevant…

Q: Jia is considering whether to go out to dinner at a restaurant with her friend. The meal is expected…

A: Opportunity cost is the cost of next best alternative forgone.

Q: Julie complains about the extremenoise in the factory. This is one of hygiene factors according to…

A: When an individual is working as an employee in an organization, he has the right to have equal,…

Q: Give an example of some action that has both a monetary and nonmonetary opportunity cost.

A: Opportunity cost is a central principle of economics, which means people face tradeoffs in life. And…

Q: A __________ system is a method of making economic decisions that allows individuals and firms to…

A: In an economy, differ forms of markets are operated under different economic or market system.

Q: Just-in-time was inspired by observing: A Farm working harvesting crops B Sewers making garments An…

A:

Q: The Invisible Hand' alludes to

A: Invisible hand refers to the market's mechanism of consumers and sellers self adjusting to market…

Q: A point which lies under the PPF curve represents what kind of combination of goods?

A: #We know that the production possibility curve contains all the bundles or combination of goods…

Q: Compatibalism about free will is the thesis that

A: To find : What is thesis about compatibalism about free.

Q: When two individuals enter an exchange, you can be sure that one person benefits and that the other…

A: Trade or exchange is a process when two or more individuals exchange goods and services. In such…

Q: Economists describe a choice as: Group of answer choices A. a tradeoff B. human C. limited resource…

A: Resources are limited in every economy but the wants of humans are unlimited and never ending. To…

Q: A production possibilities frontier is shown below (Z, "Home Goods," on the vertical axis: H.…

A: Productive Efficiency : Given the available inputs and technologies, productive efficiency means…

Q: If the opportunity cost of going to prison for some person falls, this person is less likely to…

A: Opportunity Cost: The opportunity cost is the opportunity that a person loses to get engage in it.…

Q: What economic opportunity cost in COVID 19?

A: Opportunity Cost refers to the next best alternative foregone.

Q: Why social optimal output more beneficial to society?

A: A socially optimal output is produced at a point when the marginal social cost is equal to marginal…

Q: PPFs are usually bowed out because:    a) all resources are not equally adaptable in the production…

A: Production possibility frontier refers to a curve that shows the combinations of two goods located…

Q: People must make choices because the amounts of resources:    a. are unlimited.    b. are…

A: The employment of resources in the economy to create new goods and services to satisfy the wants of…

Q: The most efficient point of production along the production possibilities frontier is .) Group of…

A: Below are the mentioned inefficient points: * Point "E" shows the unattainable point. * Point "G"…

Q: Discuss why combinations of two goods cannot be attained above the PPC.

A: PPC is defined as the locus points of  output that can be produced with two goods given the factors…

Q: You own a building that has two possible uses: a grocery store, and a clothing store. The value of…

A: The Opportunity cost to a firm in using any input is what the input could earn in its best…

Q: Dominos offers all its customers 40% off any pizza if you order using the dominos app. This is an…

A: There are three  degrees of price discrimination. In first degree, discrimination is to capture all…

Q: In looking at the diagram above, if the consumer has an income of $40, then the absolute price of a…

A: Income = 40

Q: How people Face Trade Off? Give an example of Trade Off. 11 1' CC

A: When we have to give something up in order to get something else, it is known as a trade-off. It…

Q: Consider a company that produces TVs and tablets. The PPF curve for this company is represented by…

A: Given Information7x2+4y2 = 13,948 Where,x is the number of TVs and y is the number of tablets.…

Q: Analyze how pareto efficiency is achieved from consumption activities in an economy

A: Human wants are unlimited but the resources to satisfy these wants are limited. Hence there is a…

Q: Q.20 What will be the shape of PPC when marginal opportunity cost is increasing? (a) Concave to the…

A: Marginal opportunity cost is the additional cost incurred because of the increased consumption or…

Q: idea, but it is difficult to achieve. Why is this?

A: *Answer:

Q: Public Good Contribution: Three players live in a town, and each can choose to contribute to fund a…

A: Answer-

Q: Consider the following simple model of the Mile End Park Beautification Initiative (from the…

A: As per given information

Q: Is the international gold standard is an example of spontaneous order?

A: The international gold standard is a system where gold or currency which is convertible into gold at…

Q: Is lying generally illegal in the Philippines?  Yes, because the law does not allow individuals to…

A: Lying is the false or unfair action of an individual when he does not say the truth. In economic and…

Q: Suppose that the church offers free tuition to Inanda Seminary High School students with a "B"…

A: The production means inputs are used in such a manner that the output is produced. The output is the…

Q: If a family spends its entire budget in a given time frame, the family can afford either 95 cans of…

A: Opportunity cost is the second best alternative cost. Also Opportunity cost is the summation of…

Q: Q17. The choice on a production possibilities set that is socially preferred, or the choice on an…

A: Production Possibilities set is defined as the set as a set of possible combinations of goods which…

Q: Complete the following table by computing the opportunity cost of Juanita's time and the total cost…

A: The total cost incurred will be the summation of the price of the dress and the opportunity cost of…

Q: Your brother gave you a ticket to a hockey game as a birthday gift. The ticket cost your brother…

A: The opportunity cost is the benefit derived from the alternative option that is not chosen.

Q: Whose work on decision making received a 2002 Nobel Prize?

A: Answer: Princeton University psychologist Daniel Kahneman received a 2002 Nobel Prize. He won this…