Illustrate what can be said about utilization of resource

Assignment Help Business Economics
Reference no: EM1364229

a. Draw the production possibilities frontier (curve) for Travelville. Put airplanes (A) on the vertical axis. Assume that fractions of airplanes and buses can be built. (HINT: For different quantities of airplanes, determine how many buses can be produced. How many airplanes and buses can be produced if all resources are devoted to airplanes? If ten less airplanes are produced, how many buses can be produced? 20 less? Etc. Construct a table, and then graph it. It is helpful to include in your table the resources being devoted to the production of each good as well as the total amounts of labor and steel being used.)
Airplanes (A) Buses (B) Labor A Labor B Labor (Total) Steel A Steel B Steel (Total)
60 0 120 0 120 60 0 60
50 20 100 20 120 50 40 90
40 40 80 40 120 40 80 120
30 45 60 45 105 30 90 120
20 50 40 50 90 20 100 120
10 55 20 55 75 10 110 120
0 60 0 60 60 0 120 120

b. Is the production of 40 airplanes and 40 buses feasible? Efficient? What about 60 airplanes and 60 buses?

c. What can be said about the utilization of resources when 20 airplanes and 20 buses are produced?

d. What is the opportunity cost of increasing the production of airplanes from 50 to 60? From 0 to 10 airplanes?

Reference no: EM1364229

Questions Cloud

Components of break-even analysis : The change in the value of the objective function per unit increase in the value of the right hand side is referred to as:
Research and development and pate : Determine how the costs in (a) and (b) should be presented on Erin's financial statements as of December 31, 2008. Also determine the amount of amortization of intangible assets that Erin should record in 2008 and 2009.
What will be public values transmit for commuication : Alice and Bob choose the numbers 6 and 10 privately. What will be the public values they transmit and what would be the final secret computed?
Explain the desktop metaphor has been a mainstay of computer : Explain The desktop metaphor has been a mainstay of computers for some time now
Illustrate what can be said about utilization of resource : What about 60 airplanes and 60 buses. Illustrate what can be said about the utilization of resources when 20 airplanes and 20 buses are produced.
Duties of the insured after a loss : Expalin some of the duties of the insured after a loss occurs and Do you think what can happen if the insured fails to perform these duties?
Explain your product or service in detail from the customers : Explain your product or service in detail from the customer's perspective and Explain the specific features and benefits of your product or service.
Question on performance measures : Using information from the latest financial statement, compute operating leverage, ROI, EVA and another performance measure for SIRI (SiriusXM)
Find out the total internal energy of the gas : A container of volume 0.30 m3 contains 3 mol of argon gas at 31°C. suppose argon behaves as an ideal gas, find the total internal energy of the gas.

Reviews

Write a Review

 

Business Economics Questions & Answers

  How much does the money supply increase

Elucidate how much does the total amount of deposits in the banking system increase. By elucidate how much does the money supply increase.

  What would be the inflation rate be in the us

If the exchange rate at the end of the year is 105 yens for a dollar then what would be the inflation rate be in the US.

  Discuss several ways which greater educational opportunity

discuss several ways in which greater educational opportunities for young women could lead to faster economic growth in these countries.

  Explain why might this have been an effective weapon

During World War II, both Germany and England had plans for a paper weapon: they each printed the other's currency, with the intention of dropping large quantities by airplane. Explain why might this have been an effective weapon.

  Considering political disposition

Considering political disposition as an axis of product differentiation does vertical or horizontal differentiation best categorize it.

  At what price does it sell these units

Suppose that MC=4q, where MC is marginal cost. The perfectly competitive firm maximizes profits by producing 10 units of out output. At what price does it sell these units.

  Car companies will buy a latest car assembly machine

Elucidate how many car companies will buy a latest car assembly machine. Interest payments are made once a year.

  Illustrate what effect will this have on its optimal price

The company's settlement obligations are expected to raise its average total cost per pack by about $60. Illustrate what effect will this have on its optimal price.

  Assume arturo is willing to trade

Assume Arturo is willing to trade 6 burritos to Dina for each 10 tacos which Dina produces also send to Arturo.

  Industry in their home country

Identify three types of competition that most firms encounter other than competition from other firms in their industry in their home country.

  Elucidate what is effect of such tax on economic efficiency

Elucidate what is the effect of such tax on economic efficiency also the effect on economic equity. Do you think this was a popular tax.

  Increase total revenue price be increased or decreased

If the objective is to increase total revenue, should the price be increased or decreased, Explain.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd