What is the opportunity cost of an increase

Assignment Help Econometrics
Reference no: EM131035465

If the farm uses its resources efficiently, what is the opportunity cost of an increase in chicken production from 300 pounds to 500 pounds a year? Explain your answer.

Reference no: EM131035465

Questions Cloud

Determines price elasticity of demand of the time : Evaluate eskom product in term of the factors which determines price elasticity of demand of the time and nature of the product
Confronts international economic and political competition : Is there anything problematic about an economy that centers on the production of services instead of the production of goods? Is a country with such an economy in an inherently dangerous position when it confronts international economic and political..
Compare the views of management and accountants : Compare and contrast the views of management and accountants regarding the changes required by the Sarbanes-Oxley Act on internal controls and how these changes have affected corporations, accounting firms, and investors.
Set of personal-social or organizational definitions : If identity and personality are positioned as a set of personal, social, or organizational definitions, in what ways might personality and identity present competing perceptions of leader behaviors as followers observe leaders carrying out organizati..
What is the opportunity cost of an increase : If the farm uses its resources efficiently, what is the opportunity cost of an increase in chicken production from 300 pounds to 500 pounds a year? Explain your answer.
Case-control–used in health care research : Research the two major study designs–cohort and case-control–used in health care research. Find a research article on any topic in health care. Which study design has been used for research? What is your learning from the chosen article and its study..
Calculate net benefit cost of outsourcing electric motors : Calculate the net benefit (cost) of outsourcing the electric motors from Mini Motor Company assuming the motor-assembly space could be rented to another company for $22,000 per year.
Offshore facility securing replacement is challenging : In an offshore facility securing replacement is challenging. Offshore installation manager wishes to maintain sufficient inventory of critical component (pump) to achieve 99% of reliability of production operation. Assume continuous, round the clock ..
What is the new output : if real output per hour of work decresed by 20% what would be the new levels of real GDP?

Reviews

Write a Review

Econometrics Questions & Answers

  Which ones should be done if the capital budget is limited

Project First Cost Annual Benefit A $15,000 $2,800 B $20,000 $4,200 C $10,000 $2,400 D $30,000 $6,200 ..

  Whether the rm will use more or less labor

Consider a firm for which production depends on two inputs; labor and capital with prices w and r; respectively. Initially the fi?rm faces prices of w = 6 and r = 4: These prices then shifts to w = 4 and r = 2: a) In which direction will the substi..

  What lump sum should be deposit on the childs 4th birthday

A man wishes to set aside money for his daughter's college education. His goal is to have a bank savings account containing an amount equivalent to $20,000 in today's dollars at the girl's 18th birthday. The estimated rate is 8%

  Calculate optimal amount of food and clothing consumption

Using the Lagrangian Multiplier method, solve the consumer's utility maximization problem to derive the consumer's demand curves for both food and clothing as a function of prices and income. Is clothing a normal good.

  What is the fraction who earn less than annual salary

Pay scales of federal government employees are determined according to each employee's government serve (GS) rating. GS-10 experienced accountants with the Government Accounting Office (GAO) were reported to earn salaries that are approximately no..

  Determine what is the dwl due to the monopolist

The market demand curve for cable is P = 1000 - Q, where Q, the firms output, is here the number of hundreds of households with cable. The cost of supplying Y hundred households with cable is TC(Q ) = 500 - 50Q + 2Q*Q.

  Mr jones has deposited his life savings of 70000 in a

mr. jones has deposited his life savings of 70000 in a retirement income plan with a local bank. the bank pays a. 10 b.

  What are pareto-ecient outcomes of the allocation

there are 51 market participants: 25 of them are producers, where producer i can produce at most one unit of a good at cost i $; 25 of them are consumers, where consumer j is willing to buy at most 1 unit of the good for at most j $; the 51st mark..

  Who among the three will make the investment

Alvin's utility function is U(W) = W. Barry's utility function is U(W) = W^2. Carl's utility function is U (W )= sqrt(W) . Each has wealth of only $100. An investment of that $100 has a 10% chance of netting $1,000 and a 90% chance of netting a lo..

  What are the main limitations of unit root

What are the main limitations of unit root test as a test for stationarity?

  Calculate real gdp for this economy in 2003

Nominal GDP uses current prices as a measure of the value of goods and services produced, while real GDP uses prices of goods and services in a base year to measure value. Suppose an economy consists of three goods: pizza, sodas, and televisions.

  Determine cost to the govt of buying firms unsold units

Suppose the government imposes a price floor of $25, and agrees to purchases any and all units consumers do not buy at the floor price of $25 per unit  a. Determine the cost to the government of buying firms' unsold units. b. Compute the social wel..

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