Use the following table to answer the question below.     Dave's Production Possibilities Schedule Simon's Production Possibilities Schedule Pounds of Green Beans Pounds of Corn Pounds of Green Beans Pounds of Corn 0 160 0 80 20 120 40 60 40 80 80 40 60 40 120 20 80 0 160 0   Dave's opportunity cost of producing 1 pound

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A: According to the question, MPC is 0.75 and government purchases fall by 45 which means ∆G=-45. Gover...

Q: Microeconomic Question (c) Use well labelled diagrams to show how production isoquant can be used t...

A: The Law of Returns to scale states that when all the factors of production are increased in the same...

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Q: Risk selection" refers to --   a. the incentive of insurance companies to avoid enrolling people w...

A: In financial terms, risk is defined as the chance that the actual gains from an outcome or investmen...

Q: Suppose a new artificial intelligence (Al) technology is invented that can be used in production pro...

A: A new AI technology is invented that can be used in the production process leads to an increase in t...

Q: Your mother's annual salary back in 2000, the base year, was 180.000 dirhams. Iit in 2021, her annua...

A: CPI in year 2021=Annual Salary in real terms in year 2021Annual salary in year 2000×100             ...

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A: When the price level increases in an economy then it implies a fall in the purchasing power. Goods a...

Q: 1. Buyer Seller Relationship 2. Business Competition 3. New Business Venture

A: 1 Buyer Seller Relationship It is the buyer and the seller relationship in between the commitment an...

Q: depreciation rate of 8.9 %. What does this country's savings rate need to be in order to sustain a s...

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Q: The loan was made 3 years and 4 months at 6% simple interest. The principal interest amount of the l...

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Q: The benefits of economic growth, particularly as measured by real GDP per capita, include greater me...

A: Answer -1  For the vast majority of people, the benefits of economic expansion as measured by Real G...

Q: Q3 Suppose that the average hourly wage of manufacturing workers decreases. Assuming the market for ...

A: Perfectly competitive market: - it is a market condition where there are many buyers and many seller...

Q: 4. The X-Corporation produces a good (called X) that is a normal good. Its competitor, Y-Corp., make...

A: Here, the information about two goods, good X and good Y, is given as the good X is produced by corp...

Q: e accompanying table shows data from the World Bank, World Development Indicators, for real GDP per ...

A:

Q: When both the Supply and Demand curves increase, then: . The equilibrium price will certainly increa...

A: The increase in supply and demand will shift both the curves rightward.  So, here also both the supp...

Q: South Africa has a GDP of $10 billion (measured in U.S. dollars) and a population of 45 million. Ecu...

A: South Africa has a GDP of $10 billion (measured in U.S. dollars) and a population of 45 million. GDP...

Q: Suppose you are given the following information: Qs =100+3P Qd =400–2P where Qs is the quantity supp...

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Q: If there is a decreased demand for a financial asset. its yield will rise its current purchase price...

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A: Introduction Its answer is 4) Harvest function : H(E) = 100E - 3 E2 , where E is the number of fishi...

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Q: 20 (in tons) 18 20 (in tons) 18+ 16 16 14 14 12 12 10- 10 2. +++ 2468 10 12 14 16 18 20 Psh (te ) 24...

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A: The economy always experiences some unemployment even when it is producing at full employment.

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Q: When Jerry Garcia was alive he bought a house for $500,000 and made a $100,000 down payment. He obta...

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Opportunity Cost Analysis

Opportunity cost refers to the loss of potential benefits when choosing one alternative over another. It is the tradeoff a person makes, or the potential gains they miss out on, because of their choice. To analyze opportunity cost, we must consider the benefits and tradeoffs of each available option.