Kiran and Amna live in IBA hostel. They own a small business in which they make brownies and pasta and sell them to people on campus. As shown in the table on the following page, Kiran can make 30 brownies per hour but only 6 bowls of pasta. Amna is a bit slower and can make only 24 brownies or 4 bowls of pasta in an hour Suppose that Kristen and Anna can sell all their brownies for PKR10 each and all their pasta bowls for PKR 50 each. If each of them worked 20 hours per week, how should they split their time between brownies and pasta? What is their maximum joint revenue?

Q: Once again, consider Babs and Donna, who can each produce cake, beer, or some combination of the two…

A: The potential gains that an individual, investor, or organisation misses out on by choosing one…

Q: My husband is sick of me drinking Coke every day. He tells me that if I give up drinking it for 6…

A: Below points are considered: *Give up the Coke for 6 months. *Both have agreed on the deal.

Q: Suppose that Alexi and Tony can sell all their street tacos for $3.50 each and all their Cuban…

A: Tony is spending 20 hours per week on the production of Street Tacos at the rate of 60 Street Tacos…

Q: Vasya can photocopy 10 pages from a book or type 2 pages of handwritten text in 10 minutes. Petya…

A: Each person will specialize in the production of the good he has a comparative advantage in. A…

Q: Explain how each of the following situations would affect a nation's production possibilities curve.…

A: The new law is ensuring the all employee to have 16 weeks paid vacation each year, it was given that…

Q: Joanne has just completed high school and is trying to determine whether to go to junior college for…

A: Saving is the amount of money that an individual keeps aside from his total income after incurring…

Q: briefly explain how you can apply economics in your daily life. guidelines: • time management

A: Economics investigates how individuals, businesses, governments, and countries allocate resources.…

Q: Gilberto and Juanita are farmers. Each one owns a 12-acre plot of land. The following table shows…

A: The country produces that good in which it has a ‘comparative advantage’ in producing that good. The…

Q: Now suppose that your grandmother gives you six CDs for Christmas. This means that you can now…

A: The income level is given at $200 and the price level of both goods CDs and Clothing have a price…

Q: Suppose a market basket consists of 5 pencils, 2 erasers, and 1 calculator. What is the value of…

A: Given :  Number of things in a market basket :  5 Pencils 2 Erasers 1 Calculator

Q: Tim and Alyssa are farmers. Each one owns a 20-acre plot of land. The following table shows the…

A: Given,   Alfalfa Barley   (Bushels per acre) Tim 20 4 Alyssa 28 7

Q: Once again, consider Babs and Donna, who can each produce cake, beer, or some combination of the two…

A: Babs can produce a maximum of 50 cakes if she produces no beer, and 100 units of beer if she…

Q: As you look at your available resources, what is one SNHU resource/amenity that you can draw upon to…

A: Resources available at SNHU for reaching intentional goals: An academic advisor is assigned for…

Q: Suppose you observed that the consumption of organges increased sharply last year, however thet…

A:

Q: According to the below table, which of the following combinations of wheat and beef could Andrea…

A: Andrea's time for the production of 16 bushels of wheat and 32 pounds of beef = 30 * 16 + 15 * 32 =…

Q: Complete the following table and illustrate by graph following variables (TFC, TVC, TC, MC)   Q…

A: The TC, MC, ATFC, ATVC and ATC can be calculated as follows:

Q: Create a graph that best describes how the COVID-19 pandemic affected the US economy

A: The COVID-19 pandemic is the global crisis which has resulted in economic slowdown in several…

Q: Link and Zelda each have 12 hours a week they can spend making costumes and accessories for their…

A: Opportunity cost is the value of next best alternative for the given level of resources.

Q: Kevin and Maria are farmers. Each one owns a 20-acre plot of land. The following table shows the…

A: Each of them owns 20 acres of land. Kevin can produce either 40*20 =800 bushels of Alfalfa or 8*20…

Q: Justin has 5 days in a work​ week; each day he can create either 2 Android apps or 1 Apple app.…

A:

Q: According to the below table Andrea and Paul can switch between producing wheat and producing beef…

A: Given  Andrea and Paul each has 480 minutes available.    Minutes needed to make 1   Kg of…

Q: Poornima is a skilled toy maker who is able to produce both boats and kites. She has 8 hours a day…

A: The production possibility curve (PPC) is a diagram that shows the entirety of the various bundle…

Q: Deborah is a skilled toy maker who is able to produce both boats and kites. She has 8 hours a day to…

A: The production possibility curve (PPC) is a diagram that shows the entirety of the various bundle of…

Q: Complete the following table and illustrate by graph following variables (TFC. TVC. TC. MC)   TFC…

A:

Q: Power stations emit sulfur dioxide as a waste product. This generates a cost to society that is not…

A:

Q: After reviewing major/relevant material in microeconomics, your group has begun brainstorming the…

A: Microeconomics is the branch of economics that deals with economical problems at an individual…

Q: Suppose Sarah and Julia both work at a bakery making bread and muffins. In an hour, Sarah can either…

A: Here, given information is: Sarah and Julia work for 8 hours. Sarah can either make 10 loaves of…

Q: Suppose that the least amount of goods and services that Roberto will consume in a year is…

A: As per given information, Consumption function = 40000 + 0.7 * Y, which can be shown in tabular…

Q: If Fred's MRS of salad for pizza equals -5 (where salad is on the vertical axis), then which of the…

A: Marginal Rate of Substitution:- Marginal Rate of Substitution can explained as the quantity of a…

Q: Explain how an economically rational bank robber should determine how many minutes to spend in the…

A: An economically rational bank robber should not increase the time much more than 2 minutes as every…

Q: According to economists, the satisfaction people get from their consumption activities is called:

A: Microeconomics is a branch of economics that investigates how individuals and firms make decisions…

Q: Raphael is a skilled toy maker who is able to produce both trucks and kites. He has 8 hours a day to…

A: The potential benefits that an individual, investor, or corporation misses out on when choosing one…

Q: Scott and Cindy both produce only pizza and tacos.  In one hour, Cindy can produce 20 pizzas or 40…

A: The table shows production of pizza and tacos by Scott and Cindy:

Q: As a student, Jordyn spends 40 hours per week writing term papers and completing homework…

A: Production possibility frontier is the locus of different combinations of two goods that an economy…

Q: You have only 20 hours per week to use for either study time or fun time. Suppose the relationship…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Josiane and Nahed live in the beach town of batroun. They own a small business in which they make…

A: Meaning of Opportunity Cost: The term opportunity cost refers to the situation under which the…

Q: During the past major recession, upscale hotels in the United States recently cut their prices by 25…

A: The company monthly budget is $6,000 per month, the price of business travel was $1,200 per trip and…

Q: Eleanor and her little sister Joanna are responsible for two chores on their family's farm,…

A: Answer: Given,   Egg (in dozens) Milk (in gallons) Eleanor 6 2 Joanna 2 2   (1). If…

Q: Suppose you won $15 on a lotto ticket at the local 7-Eleven and decided to spend all the winnings on…

A: Answer: Given, Income=$15Price of candy bars=$0.75Price of peanuts=$1.50 The table below depicts the…

Q: What is the consumer's BAB ?  Please make sure that your graph is legible

A: Here BAB stands for Best Affordable Bundle

Q: producing a units of services and b units of goods. After technological development raises the…

A: With technological advancements, the production of both goods A and B moves to E1, which shows…

Q: During the past major recession, upscale hotels in the United States recently cut their prices by 25…

A: Company’s monthly budget permit = $6,000 Price of business travel (B) per trip= $1,200 Hourly price…

Q: Fill in the blanks: Suppose that Jake and Jill have the ability to pick either apples or…

A: The table gives production of apples and strawberries by Jake and Jill when they allocate one hour…

Q: Gilberto and Juanita are farmers. Each one owns a 12-acre plot of land. The following table shows…

A: Absolute advantage refers to the ability of an economic entity to produce a greater quantity of a…