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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 6050 20 100 20 120 50 40 9040 40 80 40 120 40 80 12030 45 60 45 105 30 90 12020 50 40 50 90 20 100 12010 55 20 55 75 10 110 1200 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?
Elucidate how much does the total amount of deposits in the banking system increase. By elucidate how much does the money supply increase.
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 in which greater educational opportunities for young women could lead to faster economic growth in these countries.
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 as an axis of product differentiation does vertical or horizontal differentiation best categorize it.
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.
Elucidate how many car companies will buy a latest car assembly machine. Interest payments are made once a year.
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 6 burritos to Dina for each 10 tacos which Dina produces also send to Arturo.
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 the effect of such tax on economic efficiency also the effect on economic equity. Do you think this was a popular tax.
If the objective is to increase total revenue, should the price be increased or decreased, Explain.
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