Produces baseball mitts and soccer balls

Assignment Help Microeconomics
Reference no: EM13835136

Consider a nation that produces baseball mitts and soccer balls.  The following table shows the possible combinations of the two products:

Baseball Mitts     0    2    4    6   8

Soccer Balls       30  24  18  10  0

Suppose the current combination of two products is 4 baseball mitts and 18 soccer balls.  Find an opportunity cost to get one more baseball mitt.

Find an opportunity cost to get on more soccer ball.

 

 

Reference no: EM13835136

Questions Cloud

Discuss your ability to generate the pareto frontier : Discuss your ability to generate the Pareto frontier in terms of the exponents you used in the compromise programming formulation. Which exponents worked satisfactorily for the complete Pareto frontier generation?
Strategic plan with cost estimates and time line : Develop a five-year strategic plan with cost estimates and a time line. It should be 5-7 double-spaced, typed (12 point) pages plus exhibits. Describe the situation facing Mensa at the time of the case. This should include the major issues facing the..
Describe the difference between a simile and a metaphor : Describe the difference between a simile and a metaphor.
Calculate the price of the bond : What is the major determinant of bond prices? The ABC bond carries a 6.5% semi-annual coupon rate and matures in 23 years. If the market yield on these bonds is 8%, calculate the price of the bond. If interest rates (yields) do not change in the mark..
Produces baseball mitts and soccer balls : Consider a nation that produces baseball mitts and soccer balls.  The following table shows the possible combinations of the two products: Baseball Mitts     0    2    4    6   8 Soccer Balls       30  24  18  10  0
What is the maximum initial cost the company : Scanlin, Inc., is considering a project that will result in initial after tax cash savings of $1.70 million at the end of the first year, and these savings will grow at a rate of 3 percent per year indefinitely. What is the maximum initial cost the c..
Construct a table showing marginal sales per day : Washington Oregon Idaho Days Gross Sales Days Gross Sales Days Gross Sales 0 $10,000 0 $0 0 $6,250 1 25,000 1 8,750 1 12,500 2 37,500 2 16,250 2 17,500 3 47,500 3 22,500 3 21,250 4 55,000 4 26,250 4 23,750 5 60,000 5 28,750 5 25,000 6 62,500 6 30,000..
Lesson from the harvard cheating scandal : lesson from the Harvard cheating scandal
Draw yourindifference curves between left and right shoes : Suppose that you like to own both left and right shoes, but that a right shoe isof no use to you unless you own a matching left one, and vice versa. Draw yourindifference curves between left and right shoes.

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

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