Fins amount of barley and alfalfa each farmer can produce

Assignment Help Econometrics
Reference no: EM13222245

Jason and Stasis are farmers. Each one owns a 20-acre plot of land. The table below shows amount of barley and alfalfa each farmer can produce on a given acre. Both farmers can choose whether to devote all 20 acre to producing barley, devote all 20 acres to producing alfalfa, or produce barley on some of their land and alfalfa on the rest.
Barley Alfalfa
Jason 8 4
Stasia 12 3

Reference no: EM13222245

Questions Cloud

How do the language differences contribute to the challenges : In what ways would prejudice and stereotypes make it more difficult for the supervisors in a business to improve relations with employees?How do the language differences contribute to the challenges.
Find out the molality of the solution : With water as a solvent, determine the molality of the solution required to produce a change of temperature equal to 2 ºC
Find the price below which the firm will go out of business : Office building maintenance plans call for the stripping, waxing, and buffing of ceramic floor tiles. This work is contracted out to maintenance firms, and both technology and labor requirements are very basic. Supply and demand conditions in this..
Explain a stimulant and decongestant drug : Many important drugs contain the amine functional group, which makes them basic. Many drugs also contain an amide group, which is effectively neutral. Suggest a way to separate ephedrine, a stimulant and decongestant drug shown below, from phenace..
Fins amount of barley and alfalfa each farmer can produce : Jason and Stasis are farmers. Each one owns a 20-acre plot of land. The table below shows amount of barley and alfalfa each farmer can produce on a given acre. Both farmers can choose whether to devote all 20 acre to producing barley, devote all 2..
Explain what is the concentraton of kmno4 solution : 5H2C2O4(aq) + 2KMnO4(aq) + 3H2SO4(aq) ---> 10CO2(g) + 2MnSO4(aq) + K2SO4(aq) + 8H2O(l). What is the concentraton of KMnO4 solution if 22.35mL reacts with 0.5170g of oxalic acid.
Calculate fund managers average : Calculate each fund manager's average "alpha" (?) (i.e. actual return minus expected return) over the 5-year holding period. Show graphically where these ? statistics would plot on the security market line (SML).
Explain what is the absolute pressure of the gas : What is the gauge pressure of the gas in this mercury manometer if h = 53 mm and the atmospheric pressure is 781 mmHg? What is the absolute pressure of the gas?
Does any country have an absolute advantage in both goods : England and Scotland both produce scones and sweaters. Suppose England can produce 50 scones per hour or 1 sweater per hour. Suppose Scotland can produce 40 scones per hour or 2 sweaters per hour. Before trade England produces 25 scones and 0.5.

Reviews

Write a Review

Econometrics Questions & Answers

  What is the payback period for the software

An engineering department is considering purchase of an advanced computational fluid dynamics software system to enhance productivity. the initial cost of the software is $55,000 but is expected to result in efficiency savings of $25,000 the first..

  What is the equilibrium level of real output

Use the data above to graph the aggregate demand and aggregate supply curves. What is the equilibrium price level and the equilibrium level of real output in this hypothetical economy Is the equilibrium real output also necessarily the full-employ..

  What is the cost of producing an additional 50 cars

Suppose a production possibilities frontier includes the following combinatinos: Cars Washing Machines 0 1,000 100 600 200 0 a)graph the PPF, assuming that is has no curved segments b)what is the cost of producing..

  What is the opportunity cost for maria to cut logs

maria and emmanuel need to cut logs for shelter or gather food to stay alive per day. maria produces 10 cut logs of shelter and 10 baskets of food. emmanuel produces 5 cut logs of shelter and 8 baskets of food. a) what is the opportunity cost for m..

  What are participation constraint and incentive constraint

A principal hires an agent to run a business for one year. The agent can exert high effort or low effort. High e ffort lowers the agent's utility by 10,000. Low effort is costless. If the agent exerts high effort, the business makes a profi t of $..

  Compute marginal cost & average total cost for each output

The office-cleaning market is perfectly competitive. Consider a typical off-cleaning firm that currently faces $24 in fixed costs and an $8 hourly wage for workers. The price the firm gets for each office cleaned is $56 at the present market price.

  Determine what profit will the monopolist earn

A single producer of both products controls the entire market for beverages in this city and is considering strategies to bundle one bottle of health drink with one bottle of fruit juice. Assume that the marginal cost of supplying both varieties i..

  Explain should they leave coffee prices unchanged

If coffee price declines by 2%, what is the expected percent change in consumer demand (assuming there are no other changes that would affect demand for coffee) What is the expected change in revenue derived from coffee sales

  Calculate the income elasticity of demand for x

in the following two panels, the demand for good x shifts due to a change in income (panel A) and a change in the price of a related good Y (panel B). holding the price of good X constant at $50, calculate the following elasticities

  How much will he receive for the crop at that time

A grower estimates that if he picks his apple crop now, he will obtain 1000 boxes of apples, which he can sell at $3 per box. However, he thinks his crop will increase by 120 boxes of apples for each week he delays picking, but that the price will..

  Determine the estelles and market demand for chicken are

Adam, Joe and Estelle constitute the entire market for chicken. Adam's demand curve is given by QA = 100 - 2P Joe's demand curve is given by QJ = 160 - 4P Estelle's demand curve is given by QE = 150 - 5P Using this information, when P = 35 Adam's, Jo..

  Find indifference curve passing through apples and bananas

Charlie has the utility function U(xA, xB) = xAxB. His indifference curve passing through 35 apples and 18 bananas will also pass through the point where he consumes 10 apples and  bananas.

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