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Assume Nebraska and Virginia each have 100 acres of farmland. The following table gives hypothetical figures for yield per acre in the two states: Nebraska Virginia Wheat 9 5 Cotton 7 2 e) Suppose the two states decide that they want to produce 590 units of wheat together (not 590 units of wheat each). What is the maximum amount of cotton that they could produce? f) Draw the graph of the PPF for each state, and then draw the graph for the PPF of the two states combined. On each graph, put the quantity of wheat on the vertical axis, and the quantity of cotton on the horizontal axis. Be sure to label your graphs carefully.
explain the concept of diminishing marginal utility. since all goods are scarce, does diminishing marginal utility contradict the statement that individuals always want more of all foods?
Illustrate what role did the policies of various governments play in influencing the international expansion strategies of both McDonald's also Wal-Mart.
Using the concept of opportunity cost also PPF explain the phrase affluence tomorrow requires sacrifices today
Citizens can protect themselves in the case of robberies or harm by using these guns. Other states do not allow citizens to carry handguns
Identify the causes of the crisis, the steps the private and public sector took to resolve it, and what leaders should do to keep it from happening again.
Write down Mareko's intertemporal budget constraint in future value terms. How much pineapple will Mareko consume in each period.
Price elasticity of demand is 1.5 and a firm raises its price by 20 percent the quantity sold by the firm will ceteris paribus.
Suppose that the income tax in a certain nation is computed as a flat rate of 5 percent, but no tax is levied above $50,000 in taxable income.
Discussion on game theory concept, basic application for planning also how game theory is used to model behavior; types of games and how they are played.
alculate the correlation coefficient. If Hammer selects a pair of pants at random, what is the expected price? What is the variance of the price?
Which fiscal balance is likely to be influenced and Explain how by treating human capital investments the same as physical capital investments.
Calculate the present worth of a 4.5%, $5,000 bond with interest paid semiannually. The bond matures in 10 years, and the investor wants to make 8% per year compounded quarterly on the investment.
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