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Calculate the opportunity cost of producing the first 10 and the last 10 missiles. Discuss if the frontier exhibits increasing
Missiles vs. Milk (millions of gallons)
0 40
10 35
20 27
30 17
40 4
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- Income declines
- The number of buyers increases
- Technology improves
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- I don't get how to answer this and how the income increase and technology improves. - Calculate the opportunity cost of producing the first 10 and the last 10 missiles. Discuss if the frontier exhibits increasing opportunity costs. Missiles vs. Milk (millions of gallons) 0 4010 3020 2030 1040 0 . Using the supply and demand model, discuss what would happen to the market price if… · Incomes increase · Technology improvesA farmer can feed any combination of animals within the following range: Pigs Cows 84 12 75 15 Given the option available to him, what is the opportunity cost to the farmer of rearing one cow? Figure below presents a production-possibility frontier for food and clothing. What is the opportunity cost of increasing food production from 0 to 2 million units, from 2 million to 4 million units, and from 4 million to 6 million units? What is happening to the opportunity cost of increasing food production from 0 to 6 million units? Explain how the shape of the production-possibility frontier implies increasing costs for the production of clothing.Evidence accumulates that the use of chemical fertilizers, which increases agricultural production greatly, damages water quality. A) Identify which “good” should be placed on each axis in order to construct the production possibility frontier. Provide a justification for your choice. B) Discuss THREE possible impacts of an improved fertilizer on the production possibility frontier from part a. Be sure to respond to at least two (2) of your classmates’ posts.
- Evidence accumulates that the use of chemical fertilizers, which increases agricultural production greatly, damages water quality. Draw a production possibility frontier curve showing which “good” should be placed on each axis and why your curve would have a particular shape. In what ways does the production possibilities curve reflect scarcity, choice and opportunity cost? and list 3 possible impacts of an improved fertilizer on the production possibility frontier.Calculate the opportunity cost of producing the first 10 and the last 10 missiles. Discuss if the frontier exhibits increasing opportunity costs. Missiles vs. Milk (millions of gallons) 0 4010 3520 2730 1740 4Hi there. can you please assist on the following question below Multiple-choice questions: Select one correct answer for each of the following. Q.1.1 Consider the information contained in the table below. The table shows output rates in France and Holland for two goods (cheese and wine), when resources are fully and efficiently utilised. Country Cheese Wine Holland 450 150 France 400 100 Based on this information:(1) Holland should specialise in wine production and should export wine toFrance;(2) Holland has the absolute advantage in both cheese and wine production and consequently will not benefit by trading with France;(3) France should specialise in wine production and should export wine toHolland;(4) Holland should specialise in both cheese and wine production and should export both goods to France.Q.1.2 News about high levels of criminal activity in South Africa discourages American tourists from visiting South Africa. This decline in the number of tourists from the USA…
- This is the second time asking this because last person did not answer the first ten and last ten missiles part right. That is all I need no need Calculate the opportunity cost of producing the first 10 and the last 10 missiles. Discuss if the frontier exhibits increasing opportunity costs. Missiles vs. Milk (millions of gallons) 0 4010 3020 2030 1040 0Suppose a production possibilities frontier can be expressed as 9X2+y2=81. what is the opportunity cost of going from 1 unit of X to 2 units of X (in terms of units of Y)? a)√72-√45 b)1 c) 45 d) √45Why is the production possibilities frontier measuring opportunity cost in terms of the other good or service?
- Two countries, Marland and Teckana, can produce either clothing or food using all their available resources at constant opportunity cost. The table below shows the daily production of clothing or food in Marland and Teckana. Clothing Food Marland 120 20 Teckana 80 20 (a) Which country has the absolute advantage in producing food? Explain. (b) Which country has the comparative advantage in producing food? Explain. (c) Assume the two countries specialize based on their comparative advantage. If the two countries engage in trade and one unit of food is exchanged for 5 units of clothing, will these terms of trade be mutually beneficial? Explain. (d) Suppose Teckana invented new equipment to only increase the production of clothing. (i) Draw a correctly labeled graph of Teckana’s initial production possibilities curve, with clothing on the horizontal axis and food on the vertical axis. Plot the numerical values above on the graph. (ii) Show the effect of the new…Adam Smith favors a policy of laissez-faire in managing economic activities. Why? Economics deals with the efficient use of resources. Why? Marginal analysis produces more optimal outcomes when working with scarce resources. How? It is possible for everyone to enjoy a comparative advantage in a task of their choosing. Why? Larger marketplaces tend to generate more wealth than smaller marketplaces. Why? Calculate the opportunity cost of producing the first 10 and the last 10 missiles. Discuss if the frontier exhibits increasing opportunity costs Missiles vs. Milk (millions of gallons) 0 40 10 30 20 20 30 10 40 0 -Using the supply and demand model, discuss what would happen to the market price if… Incomes increase Technology improves -When ASU increased its tuition from $200 per credit to $250 per credit the enrollment declined from 50,000 to 40,000. Explain…There are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the following costs: Consumers' Willingness to Pay Hilary: $35 Maria: $15 Edison: $45 Kevin: $25 Firms' Costs Firm A: $40 Firm B: $20 Firm C: $10 Firm D: $30 Each firm has the capacity to produce only one haircut. For efficiency, should be given. Which businesses should cut hair? Check all that apply. Firm A Firm B Firm C Firm D Which consumers should have their hair cut? Check all that apply. Edison Hilary Kevin Maria The maximum possible total surplus is .
