John is thinking about going to the movies tonight . A ticket costs $ 9 and he will have to cancel his baby - sitting job that pays $ 20 . The total opportunity cost of seeing the movie is O A ) $9 O B ) $29 O C ) Indeterminate O D ) $ 29 minus the benefit of seeing the movie
Q: Explain system/mass theory and elite theories in public policy
A: The policy that depicts a set of actions being taken by the government for addressing issues that ex...
Q: Which of the following statements about labour productivity (Y/L), also known as the average product...
A: Labor Productivity is also known as the average product of labor.
Q: When the consumer has limited buying options from a company, the company utilizes which of Porter's ...
A: Porter's Five Competitive Forces Porter's Five Forces basically refers to a model that identifies an...
Q: At point C, how many units of Good X are bought? Good X 8 (?X, ?Y) C(?X, ?Y A (55X, ?Y) udet inemess...
A: A budget line is the graphical representation of different combinations of two goods that can be pur...
Q: Denmark pegs its currency to the euro. Even though Denmark opted not to join the single currency in ...
A: In a type of government like democratic government, it has been seen that there is the contribution...
Q: Is America a meritocracy?
A: The term Meritocracy refers to such kind of government which is ruled people from the educated class...
Q: If the price elasticity for bananas at the farmers' market is 1.5, is demand elastic, inelastic, or ...
A: Let's first understand what's actually the concept of elasticity of demand. The elasticity of deman...
Q: 4 Show that the swap rate for a standard swap with level notional amount is the same as the at-par y...
A: Calculation is shown Below....
Q: 6. Draw a graph of the Dynamic Aggregate Demand Curve and explain it clearly. 8. Draw a graph and ex...
A: Answer (6) AD or aggregate demand is referred to as the amount of total expenditure on domestic goo...
Q: 6. We have the production function, Q= fl K,L). Factor prices are r and w respectively and the produ...
A: Here, we have Production function, Q=f(K,L) Rental rate of a unit of capital is given by r which is ...
Q: What's the current yield of a 3.8 percent coupon corporate bond quoted at a price of 102.08
A: Current Yield The yearly income (interest or dividends) from an investment is divided by the current...
Q: 1. Suppose two nations, Beta and Gamma, each make aircraft and corn. The main resource in each natio...
A: Given: Goods: Aircraft Corn Note: Due to multiple subparts being posted, the first three subparts ha...
Q: Consider the following closed economy: C = 30 + 0.87 x YD. 1= 2400 G = 2000 TR = 30 T = 0,40 x Y If ...
A: An economy is closed when there are no trading activities with the outside economies. The formula fo...
Q: Using a method similar to that used to calculate the consumer price index, the percentage change in ...
A: Consumer price index "it measures the average change in price over time in a fixed market basket of ...
Q: The opportunity costs could be computed as: Aircraft Corn =1/500=0.002 air Beta =500/1=500 corn craf...
A: 1. Beta is specialized in Corn production because its opportunity cost is lower than Gamma in the c...
Q: The market supply curve of shoes is given by QS=350,000+10,000P. The demand for shoes can be segment...
A:
Q: The discount rate will never be equal to interest rate. True or False?
A: Discount rate is defined as the rate of interest which is charged to commercial banks and other form...
Q: Assume this economy is producing only one product and year 4 is the base vear. Output and price data...
A: Here, the given table shows the price and output in different years where year 4 is considered as th...
Q: Country A produces GDP according to the following equation: GDP = 5VK. The country has a depreciatio...
A: Let savings rate be represented by s. In steady-state: s×steady state level of GDP=Depreciation rate...
Q: 24. What is the GDP of country X? 25. What is the per capita GDP of Country X?
A: The term GDP means the aggregate total output produced by a country in the current year. This produc...
Q: Which is one of the most notable trends of foreign direct investment over the last 20 years: -The d...
A: The quantity of foreign direct investment (FDI) in the United States has more than doubled in the la...
Q: 11. Describe what happens to quantity of labor supplied when wages are at the equilibrium level, abo...
A: Labor: - labor is one of the factors of production, any physical and mental work by humans against a...
Q: Final goods or services used to corpute GDP refer to O the value of outstanding shares of stock of m...
A: Let's first understand about two broad categories of goods which are final goods and intermediate go...
Q: Spending (bilions of dollars) 800 45-degree line 700 AE 600 500 400 300 200 100 100 200 300 400 500 ...
A: Answer -
Q: Carefully explain the Solow Growth theory and its extended variations. That is, thebasic Solow model...
A: The Solow Growth Model is an exogenous economic growth model that explores how population growth, sa...
Q: What is the Average Variable Cost if the firm produces 17 units
A: The formula for Average Variable Cost (AVC): AVC = Total Variable Cost (TC) / Quantity (q)
Q: A Chinese etie tys en autonutile produced in Japari tya Caaden company What aopen resu Select one O ...
A: The rate that depicts at which one currency is being measured in terms of another currency is known ...
Q: If a person works a standard 8 hour day he will be at Point C on the graph. At C, how many hours of ...
A: Here, we are assuming that there are 24 hours in a day that a person can divide between working hour...
Q: Goods imports 635 Goods exports 419 Services imports 144 Services exports...
A: Current account balance includes the export and import of goods and services and unilateral transfer...
Q: You own a printing firm. Two of your senior managers provide you with advice. The first manager stat...
A: The supply curve shows the association between the price of commodity and quantity of the commodity ...
Q: 3. Types of unemployment The three people described in the following table are categorized as unempl...
A: unemployment, the state of one who is equipped for working, effectively looking for work, however in...
Q: The Phillips curve in Lowland takes the form of π = 0.04 − 0.6(u − 0.05), where π is the actual infl...
A: Answer -
Q: TRUE OR FALSE Selecting the best alternative always depends on the economy under study, rather than ...
A: Total Cost is the overall expenditure incurred in the production of all the goods and services.
Q: The difference between private cost and social cost is that A) social cost only considers the extern...
A: Private Cost is the cost of producing a good or service. Social Cost is the sum of private and exte...
Q: Suppose that at a rural gas station in Toby Acres, there are only two customers, Johnny (who drives ...
A: There are only two consumers, i.e., Johnny and Olivia who demand gasoline. ----------------------- ...
Q: How would the price equation apply to the purchase price of (a) gasoline, (b) an airline ticket, and...
A: The Price equation (also known as Price's equation or Price's theorem) describes how the frequency o...
Q: Lucy's company has just promoted her to a managerial position and given her a new office. She is ver...
A: U=sqrt(XY) U1=4 U2=6 U=sqrt(XY) Where, X is for carpets and Y is for the paintings. when U=4 and U...
Q: What is the impact of recession in our economy?
A: The economies around the globe have a limit to the amount of resources available with them. The want...
Q: The graph represents consumption (C) as a function of Consumption disposable income (DI). Assume the...
A: Answer: MPC (marginal propensity to consume) refers to the ratio of change in consumption to the cha...
Q: In Figure #1, which of the following points represent attainable production points? none of the poin...
A: Production possibility curve (PPC) is a representation of two goods which depicts the different poss...
Q: Question 31 This person earns $1000 of income today and $2000 income next year. Point C represents h...
A: Answer: Given, Income in period oneY1=$1000Income in period twoY2=$2,000Interest rater=10%=0.1 Point...
Q: When you are with a young child and want to show them something fun and new, there is the risk that,...
A: Answer -
Q: the welfare analysis of the takeover of a PC industry by a monopoly, the deadweight loss results fro...
A: A monopoly is a sole producer of a good in the market thus acting as a price maker whereas in a comp...
Q: 4. A conceptual difference between a firm operating in a perfectly competitive market and a firm ope...
A: Perfectly competitive market is characterised by the many buyers and sellers and products are identi...
Q: c) Give a formal definition of increasing, decreasing, and constant returns to sale, and determine i...
A: Increasing Returns to Scale Increasing our inputs by m increases our output by more than m. Constant...
Q: How does SAT performance influence occupational andeconomic achievement?
A: SAT scores have a positive relationship with economic achievement. A higher SAT scores means a high...
Q: Discuss the features for assisting the growth process of nations towards becoming developed economie...
A: Economic growth is the process by which a country's wealth grows over time. Although the term is fre...
Q: Which of the following statements are correct? Select one or more: O a. Government spending on goods...
A: GDP The Gross Domestic Product (GDP) basically refers to the sum of all the value added in a given e...
Q: This question considers GDP in a country in a single year. Which of the following statements are cor...
A: GDP means gross domestic product which is a measurement of all the goods and services manufactured i...
Q: Profesör Çabuk homotetik bir fonksiyonu γ’ıncı dereceden homojen bir fonksiyonun monotonik artan bir...
A:
Step by step
Solved in 2 steps
- 3. During the summer you have made the decision to attend summer school, which preve:ts you from working at your usual summer job in which you normally earn S5,000 for th summer. Your tuition cost is S3,000 and books and supplies cost S1,300. In terms of dollars, the opportunity cost of attending summer school is: A. SI0,300. B. S5,000. C. S4,300. D. S3,000.While producing on the production possibilities frontier. if additional units of a good could be produced at a constant opportunity cost, the production possibilities frontier would be Select one: O a. boswed outward. O b.a straight line. O c bowed inward. O d. positively sloped.Assume China has 10,000 workers. Suppose that each Chinese worker produces either 30 pairs of boots or 10 software per month. Suppose that half of Chinese workers produce boots and half produce programs. What quantities of boots and software does China produce? Are these production combinations efficient? Select one: O a. China produces 50,000 pairs of boots and 150,000 software per month. These production combinations are efficient O b. China produces 150,000 pairs of boots and 50,000 software per month. These production combinations are efficient. O c. China produces 50,000 pairs of boots and 150,000 software per month. These production combinations are not efficient. O d. China produces 150,000 pairs of boots and 50,000 software per month. These production combinations are not efficient.
- Frances is a skilled toy maker who is able to produce both trucks and drums. She has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of her time. Choice Hours Producing Produced (Trucks) (Drums) (Trucks) (Drums) A 8 0 4 0 B 6 2 3 10 C 4 4 2 16 D 2 6 1 18 E 0 8 0 19 Suppose Frances is currently using combination D, producing one truck per day. Her opportunity cost of producing a second truck per day is _______. Now, suppose Frances is currently using combination C, producing two trucks per day. Her opportunity cost of producing a third truck per day is ________ per day. From the previous analysis, you can determine that as Frances increases her production of trucks, her opportunity cost of producing one more truck _______. Because she can now make more trucks per hour, Frances's opportunity cost of producing drums is…2. Determining opportunity cost Juanita is deciding whether to buy a suit that she wants, as well as where to buy it. Three stores carry the same suit, but it is more convenient for Juanita to get to some stores than others. For example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $104 for the suit: Store Travel Time Each Way Price of a Suit (Minutes) (Dollars per suit) Local Department Store 15 104 Across Town 30 87 Neighboring City 60 80 Juanita makes $36 an hour at work. She has to take time off work to purchase her suit, so each hour away from work costs her $36 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. Complete the following table by computing the…Below is a table of production possibilities for a company that produces soft drink bottles and juice bottles (in thousands of units per week): Production alternatives production type A B C D E F Set of 8 soft drink bottles 0 4 10 15 19 22 12 juice box 58 56 48 32 16 0 Plot this data on a graph. What specific assumptions are represented by this production possibilities curve? If a firm is at point C, what is the opportunity cost of an additional set of soft drinks? From an extra juice box? If the company characterized in this table produced 7 sets of 8 bottles of soda and 40 cases of 12 juices, what could be concluded about the use of available resources? Is production currently possible at a point outside the production possibilities curve? Explain your answer.
- It takes Andy 45 minutes to complete a load of laundry and 15 minutes to wrap a present. It takes Bob 60 minutes to complete a load of laundry and 30 minutes to wrap a present. Which of the following statements is true? Select one : O A. Bob's opportunity cost of doing a load of laundry is wrapping 3 presents. O B. Bob has a comparative advantage in doing laundry. O C. Bob has a comparative advantage in wrapping a present. O D. Andy's opportunity cost of wrapping a present is doing 3 loads of laundry. O E. Bob has an absolute advantage in doing laundry.So the last is it the fact that resources are scarce or law of increasing opportunity costs ? Cannot be bothSuppose that you are given a $100 budget at work that can be spent only on two items: staplers and pens. If staplers cost $10 each and pens cost $2.50 each, then the opportunity cost of purchasing one stapler is: a. 10 pens. b. 5 pens. c. zero pens. d. 4 pens.
- Monica like to spend 30 dollars weekly on movies and burgers.movie tickets costs 6 dollar each and burger cost 3 dollar each. 1. Is she able to watch 3 movies and have 5 burgers in a week given her budget of 30 dollar? 2. What is monica s opportunity cost of watching a movie?Question 39 If a company could make either 10 trucks and 20 cars or 5 trucks and 30 cars, your opportunity cost of making the second choice would be five trucks O there is no opportunity cost in this example O thirty cars O ten carsA consumer have budget amounting to $400 which he could spend on two goods such as ice cream at $25 and a slice of bread at $40. Assuming that the ice cream will be located aling the vertical axis, and bread slice along the horizontal axis, what is the opportunity cost of bread in terms of the ice cream? (How many units of ice cream will be given up to gain a slice of bread?) Answer in absolute value.