Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Milo and George are barbers. In one day, Milo can give 6 haircuts or give 8 shaves. In one day, George can give 5 haircuts or give 10 shaves.
a. What is Milo’s opportunity cost of one haircut? What is George’s opp. cost of one haircut?
b. Who has absolute advantage in giving haircuts and why?
c. Who has the comparative advantage in haircuts and why?
d. Draw Milo’s individual PPC and George’s individual PPC on the same graph. (Put haircuts per day on the horizontal axis and shaves per day on the vertical.)
e. What differences in Milo’s and George’s individual PPC’s result from your answer to b? What differences in their PPC’s result from your answer to c?
f. Now graph Milo and George’s combined PPC. What does this graph represent?
g. Suppose the demand for haircuts is fixed at 8 per day and the demand for shaves is fixed at 5 per day. Is it possible for Milo and George to fill this demand? To illustrate, plot this point on your graph from part e.
q.a company is considering buying a new machine. two different models are available on the market.marr is 10.data
Jay Boville Corporation is being sued by Lark Dent. Lark Dent can settle out of court and win $40,000 or go to court. If Lark goes to court, there is a 30% chance that she will win the case. If she wins, a small and a large settlement are equally lik..
Too often businesses look at short term return on investment (usually one to four quarters), and they miss longer term strategic goals. A great example of this was the choice by Toyota and Honda to embark on developing hybrid technologies twenty year..
A Caribbean cruise line has purchased a new cruise ship for $509,397 and expects to realize a net revenue of $190,000.00 each year for the next 10 years. The estimated salvage value of the ship at the end of its useful life of 10 years is $52,000. As..
Can policymakers stabilize both the price level and real GDP simultaneously in response to a short-lived but sudden rise in oil prices? Explain briefly.
The Short Run Total Cost of a firm is given by C= 190 + 53 Q. Find out the firm's total fixed cost. Find out the firm's total variable cost. Find out the firm's short run marginal cost.
How the "financialization" of the capitalist political economy was central to the global economic crisis of 2008. (Explain what financialization is; how or why it arose as a resolution to earlier crises; and what specific features of it were importan..
In the 1990s, U.S. wine producers "were encouraged by the changing social role of their product." Specifically, the U.S. consumer had become much more attuned to wine. How did the growing acceptance of wine by consumers affect their indifference curv..
suppose that a new law requires every firm to provide its workers with free parking spaces. these spaces are worth 200
Why has Sharp been so successful for so long. Is Sharp today an end products or a components company. How is Sharp able to coordinate and integrate activities across corporation.
Carborro has 3 equal sized groups of people: Type A consistently prefers more police protection to less; Type B prefers high levels of police protection to low levels and they prefer low levels to medium levels. Will majority voting generate consist..
Draw supply and demand curves. Show the impact of an increase in demand on the price and quantity exchanged in the market. Show the impact of a decrease in demand on the price and quantity exchanged in the market. Please use the US Bond Market as you..
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd