Graphing: Using the Production Possibilities Schedule above, make a Production Possibilities Frontier with proper point and axis labels. Production Combination Units of Bracelets I. A P L 1 ED D C O ZMSUB N G T 0 10 20 30 40 50 60 70 80 90 100 110 120 130 Units of Rings 205 200 194 187 179 169 158 146 133 117 100 77 50 0
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- Xavier has preferences between food eaten today and food eaten tomorrow of the form. U(today, tomorrow) = 0.51 * ln(today) + 0.49 * ln(tomorrow) He has $100,000 to spend. Food today costs $20 per pound; food tomorrow costs $19 per pound. 9. How many pounds of food does he consume today? 10. How many pounds of food does he consume tomorrow? (Please evaluate to get number values as solution)Pisa Pizza, a seller of frozen pizza, is considering introducting a healthier version of its pizza that will be low in cholesterol and contain no trans fats. The firm expects that sales of new pizza will be $20 million per year. While many of these sales will be to new customers, Pisa Pizza estimaes that 40% will come from customers who switch to the new, healthier pizzai nstead of buying the original version. a) Assume cusotmer will spend the same amount on either version. What level of incremental sales is associated with introducing the new pizza? b) Suppose that 50% of hte cusomters who will switch from Pisa Pizza's orignial pizza to its healthier pizza will switch to another brand if Pisa PIzza does not introduce a healthier pizza. What level of incremental sales is associated with introducing the new pizza in this case?Fare F ($/trip) and travel time T (hr/trip) for Bus and Rails are given Bus: F= 40, T = 3 Rail: F = 56, T=2.5 We have a utility function u = -0.005 F -0.1 t * Use the logit model to find the probability of choosing bus * What change in rain rare would achieve the probability of choosing rail to be 55%? * What value use time is implied by the utility function? Start to think about the utility of one-hour a. it will be #% b. #$ c. $20$/hr
- What is the difference between a positive and a normative statement?Q 2.A write a short note about the following variables and support your answers by giving examples for each variable: 1.TFC: 2.TC:Decide the best choice. a. The inndividual waiting times experienced by customers in a busy breakfast cafe would be an example of a deterministic process because several customers are waiting to be seated. b. Informmation Systems and Informmation Technology are identical and synonyms that mean the exact same thing. c. In 2019, both manuffacturing and service sectors employed roughly the same percentage of the labor force in USA. d. Today, services constitute a large percentage (e.g., more than 60%) of the U.S. economy. e. Both choices ‘a’ and ‘b’ are correct.
- Suppose a society is producing capital and consumer goods. Draw productionpossibilities frontier for capital and consumer goods. Show the points that are not possible for aneconomy to achieve. Also show a point that is feasible but inefficient.A factory manufactures both toy boats and toy trucks. It costs $125 to make a toy boat and $175 to make a toy truck. The factory only has $3,000 available to put into their production. If B is the number of boats made, and T is the number of trucks made, which of the following will be a Lagrangian equation if you are trying to maximise profits? a.120 + 5B + 7T = 0 b.120 - 5B - 7T = 0 c.0 = 120 - 5B + 7T d.0 = -120 - 5B - 7T e.120 + 5B - 7T = 0According to a recent Wall Street Journal article, about 2% of new US car sales are electric vehicles (data from Edison Electric Institute reported by Jinjoo Lee, "Peak Oil? Not This Year. Or This Decade," January 9, 2021 pg. B12). Suppose a company has 111 employees who drive new cars (separately) to work each day. What is the probability that at least one of them will drive an electric car? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.