1 has the absolute advantage in sending emails while has

Reference no: EM13376003

1. ____ has the absolute advantage in sending emails while ____ has the absolute advantage in typing pages.

a. Jennifer; Jennifer
b. Jennifer; Brad
c. Brad; Jennifer
d. Brad; Brad

2. What is Brads marginal cost of sending 1 email?
a. 1/2 of a typed page
b. 2/5 of a typed page
c. 2 typed pages
d. 2.5 typed pages

3. The person with the comparative advantage in sending emails has the _____ marginal cost of sending an email. Based on this fact, _____ has the comparative advantage in sending emails.

a. Lower; Jennifer
b. Lower; Brad
c. Higher; Jennifer
d. Higher; Brad

4. Assume that Jennifer and Brad work together to send emails and type pages. Which of the following points would NOT be on Jennifer and Brad's joint production possibility frontier? (Note: It does not matter which task you measure on which axis for this problem. If it helps, assume that emails are on the x-axis and pages are on the y-axis).

a. 55 emails and 0 pages
b. 30 emails and 10 pages
c. 25 emails and 15 pages
d. 0 emails and 25 pages

344_What is Brads marginal cost.png

5. Based on the graph above, ______ has the absolute advantage in brownie making, while _____ has the comparative advantage in brownie making.

a. Paxton; Amanda
b. Amanda; Paxton
c. Paxton; Paxton
d. Amanda; Amanda

Use the figure below to answer question #6:

675_What is Brads marginal cost1.png

6. Compared to point A, the marginal cost of producing good Y at point B is
a. Higher
b. The same
c. Lower
d. More information is needed to answer this question.

7. If a large amount of skilled labor immigrates into the country, which allows the available resources to produce more of goods X and Y, which of the following would occur?
a. The y-intercept of the PPF will rise, and the x-intercept of the PPF will fall.
b. The y-intercept of the PPF will rise, and the x-intercept of the PPF will rise.
c. The y-intercept of the PPF will fall, and the x-intercept of the PPF will fall.
d. The y-intercept of the PPF will fall, and the x-intercept of the PPF will rise.

Use the following information to answer questions #8-#9.

The table below represents different points along a production possibilities frontier:

1331_What is Brads marginal cost2.png

8. What is the marginal cost of producing the second car?
a. 500 cookies
b. 750 cookies
c. 1750 cookies
d. 2750 cookies

9. Which of the following points would be considered infeasible?
a. (0 cars, 2000 cookies)
b. (2 cars, 1750 cookies)
c. (2.5 cars, 300 cookies)
d. (3 cars, 1500 cookies)

10. Which of the following would decrease the demand for movie tickets?
a. An increase in the price of move tickets
b. A decrease in the price of popcorn, a complement in consumption
c. An decrease in income, and movie tickets are a normal good
d. Both a & c are correct

11. How does a decrease in demand for movie tickets affect equilibrium in the market for movie tickets?

a. Equilibrium price will rise, and equilibrium quantity will be indeterminate
b. Equilibrium price will fall, and equilibrium quantity will fall
c. Equilibrium price will fall, and equilibrium quantity will rise
d. Equilibrium price will be indeterminate, and equilibrium quantity will fall

Download:- ECON.pdf

Reference no: EM13376003

Questions Cloud

This mba common case focuses on the operations of hyundai : this mba common case focuses on the operations of hyundai the korean automobile manufacturer in china. at the time the

When faced with a problem what do you do to solve it : when faced with a problem what do you do to solve it? assignment 2 asks you to apply a systematic approach to problem

Information systems securitysuppose you are the it : information systems securitysuppose you are the it professional in charge of security for a small pharmacy that has

Discuss homeostatis you have choosen the bodies temperature : discuss homeostatis. you have choosen the bodies temperature and you need to discuss it and what effects it has on the

1 has the absolute advantage in sending emails while has : 1. has the absolute advantage in sending emails while has the absolute advantage in typing pages.a. jennifer

Zach taylor is settling a 27000 loan due today by making 6 : zach taylor is settling a 27000 loan due today by making 6 equal annual payments of 6018.83. what payments must zach

1 the us has produced the following quantity of gauges and : 1. the u.s. has produced the following quantity of gauges and potatoes with the price of each listed in dollar

Self-assessments are really important for all business : self-assessments are really important for all business seeking to continually improve quality and innovate. you make a

The sea of most pure and most polluted water for fish : the sea of most pure and most polluted water for fish drinkable and life-preserving for men undrinkable and

User Account

All Pages