Mowgli and Baloo like to catch fish and pick bananas. Some information about their productive abilities is given below, If they work together efficiently and catch 105 fish, how many bananas can they also consume? Maximum Opportunity Cost Mowgli 10 fish OCg = 1/3 fish Baloo 120 bananas OCF = 6/5 bananas Answer:

Mowgli and Baloo like to catch fish and pick bananas. Some information about their productive abilities is given below, If they work together efficiently and catch 105 fish, how many bananas can they also consume? Maximum Opportunity Cost Mowgli 10 fish OCg = 1/3 fish Baloo 120 bananas OCF = 6/5 bananas Answer:

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter5: Consumer Choice: Individual And Market Demand

Section: Chapter Questions

Problem 3TY: Emily buys an air conditioner that costs $700. Because the air in her home is cleaner, its use saves...

See similar textbooks

Similar questions

It is clear that productive inefficiency is a waste since resources are used in a way that produces less goods and services than a nation is capable of. Why is allocative inefficiency also wasteful?
Would an op-ed piece in a newspaper urging the adoption of a particular economic policy be a positive or normative statement?
Emily buys an air conditioner that costs $700. Because the air in her home is cleaner, its use saves her $250 in curtain cleaning costs over the lifetime of the air conditioner. In money terms, what is the opportunity cost of the air conditioner?
Explain why scarcity leads to tradeoffs.
You’re given the following information about a newlywed couple Mike and Debbie. The table provides you with the time it takes each of them to do different chores: vacuuming a room or washing a load of dishes. Mike Vacuum 1 room = one hour 2 loads of laundry = one hour Debbie Vacuum 2 rooms = one hour 1 load of laundry = one hour What is Debbie's opportunity cost of washing a load of laundry in terms of vacuuming?
Carmen and Dennis live on a desolate island. They spend their days fishing or climbing trees to collect coconuts. The following table shows how much of each activity Carmen and Dennis can produce for each hour of work. They each can work up to 12 hours a day. Fish per hour Coconuts per hour Carmen 40 8 Dennis 28 7 On a piece of paper, draw Carmen's PPF with fish on the horizontal (x) axis and coconuts on the vertical (y) axis. Carment's PPF extends from Question Blank 1 of 9 to Question Blank 2 of 9. (Hint: your answer should be in the form of a point (x,y).) Question Blank 3 of 9 has an absolute advantage in the production of fish, and Question Blank 4 of 9 has an absolute advantage in the production of coconuts. Carmen's opportunity cost of producing 1 coconut is Question Blank 5 of 9 fish, while Dennis' opportunity cost of producing 1 coconut is Question Blank 6 of 9 fish. Because Carmen has a Question Blank 7 of 9 opportunity cost of producing…
You’re given the following information about a newlywed couple Mike and Debbie. The table provides you with the time it takes each of them to do different chores: vacuuming a room or washing a load of dishes. Mike Vacuum 1 room = one hour 2 loads of laundry = one hour Debbie Vacuum 2 rooms = one hour 1 load of laundry = one hour What is Mike’s opportunity cost of vacuuming 1 room?
You’re given the following information about a newlywed couple Mike and Debbie. The table provides you with the time it takes each of them to do different chores: vacuuming a room or washing a load of dishes. Mike Vacuum 1 room = one hour 2 loads of laundry = one hour Debbie Vacuum 2 rooms = one hour 1 load of laundry = one hour What is Debbie's opportunity cost of washing a load of laundry in terms of vacuuming? Group of answer choices The ability to vacuum 2 rooms. The ability to vacuum 1/2 a room. The ability to vacuum 3 rooms. The ability to vacuum one room.
Q15.) Marie has a weekly budget of $24, which she likes to spend on magazines and pies. The price of a pie is $12. 1.) If the price of a magazine is $4 each, the maximum number of magazines she could buy in a week is m? 6 magazines 2.) If she buys 1 pie the number of magazines she can buy in a week is? 3 magazines 3.) What is her S opportunity cost of purchasing a pie? $4 What is question 4 answer? 4.) If Marie's weekly budget is $24, which she likes to spend on magazines and pies, and If the price of a pie is $12 each, what is the maximum number of pies she could buy in a week? ___
Andreas has 10 hours available for knitting scarves and hats. It takes him 10 minutes to knit a scarf and 20 minutes to knit a hat. His current plan is to make 3 scarves and1 hat. What is his opportunity cost (in terms of hats) of knitting one more scarf than is in his plan?
Matt spends 3 hours working rather than playing pool with his friends. if he eams $25 an hour,what is his opportunity cost of working? 1. the $75 he earns working 2. the $75 minus the enjoyment he would have received from watching YouTube. 3. the enjoyment he would have recelved had he played pool with his friends 4. nothing. since he would have received less than $25 of enjoyment from playing pool
Five people get together for five nights at the beach. Dinner duty is distributed so that each person is assigned a night to buy and cook dinner and provide the wine. At the end of their stay, the receipts from the five nights will be summed up and each person will pay 1/5th of the total. These five people are all gourmands and each is trying to impress the other. Suppose that five different amounts can be spent on preparing a meal: 50, 80, 150, 250, and 400. As reported in the table below associated with each amount of expense is the benefit received by the person who made the meal and the benefit received by all of those who ate it (which includes the person who made it). For example, if 250 was spent on the meal, then the person who made it receives a total benefit of 280 (230 from cooking it and 50 from eating it) and each of the other four peoplereceive a benefit of 50 from eating it. A player’s payoff equals the benefitfrom making his or her meal plus the benefit from eating the…