How do you calculate the opportunity cost

Assignment Help Business Economics
Reference no: EM13986764

How do you calculate the opportunity cost for: Mark can produce 50 baseballs in a month and Katie can produce 42 baseballs in a month. Also, Mark can produce 40 bats in a month and Katie can produce 30 bats in a month. What is Mark's opportunity cost of producing 10 bats? A) 15 baseballs B) 20 baseballs C) 45 baseballs D) 60 baseballs E)None of these

Reference no: EM13986764

Questions Cloud

Pricing policies compensate customers : Which of the following pricing policies compensate customers if the firm fails to provide the best price in the market?
Limit pricing will effectively deter entry when : Limit pricing will effectively deter entry when:
Result of certification of skills : Which of the following is NOT a result of certification of skills?
Assume that the demand for product : Assume that the demand for product X is represented by the following equation: QDx = 400 – 5Px + 4Py -3Pz iii) Calculate the cross price elasticity of demand for Good Y and Good X if If you are told that Py = 25 and Pz = 50.
How do you calculate the opportunity cost : How do you calculate the opportunity cost for: Mark can produce 50 baseballs in a month and Katie can produce 42 baseballs in a month. Also, Mark can produce 40 bats in a month and Katie can produce 30 bats in a month. What is Mark's opportunity cost..
Calculate the cross price elasticity of demand for good : Assume that the demand for product X is represented by the following equation: QDx = 400 – 5Px + 4Py -3Pz iii) Calculate the cross price elasticity of demand for Good Y and Good X if If you are told that Py = 25 and Pz = 50.
Develop a strategy for a firm to make sure its products : Develop a strategy for a firm to make sure it’s products always stay a big step ahead of its present competitors and also ahead of anyone else who threatens to come into their markets and compete with it. When you then put the strategy into execution..
Marginal rate of substitution between good : Suppose Ann's marginal rate of substitution between good y and good x is -2. Bill's marginal rate of substitution between good y and good x is -3. each consumer has 10 units of each good. Propose a trade between Ann and Bill that would make each cons..
Expansionary monetary policy is less likely to be effective : An expansionary monetary policy is less likely to be effective if: Assume we have the following economic data: Unemployment rate = 8% Inflation rate = 2% Annual labor force growth rate = 1% Annual increase in worker productivity = 1% Using the above ..

Reviews

Write a Review

Business Economics Questions & Answers

  Two inputs in the production function-labor and capital

Suppose there are two inputs in the production function, labor (L) and capital (K), which can be combined to produce Y units of output according to the following production function: Y = 30K + 10L The firm wants to produce 600 units of output.

  Minimum wage does not cause some workers

The minimum wage in year 1 is $1 higher than the equilibrium wage. In year 2, the minimum wage is increased so that it is $2 above the equilibrium wage. We observe that the same number of people is working at the minimum wage in year 2 as in year ..

  What is the slope of the budget constraint

Gene has the following utility function: U = XY + 2Y, the Px = $4, the Py = $1 and I=$6.  What is the slope of the budget constraint? Find Gene’s MRSx,y. Is the MRSx,y increasing, decreasing, or constant with respect to X?

  Basic earnings per common share amounted

At December 31, 2013 and 2012, G Co. had 66,000 shares of common stock and 6,500 shares of 8%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2013 or 2012. Net income for 2..

  Outward shift in the demand for capital occurs

Outward Shift in the demand for capital occurs in an economic boom when increased construction of plants, buildings and other capital-intensive business activities requires huge outlays of investment. In this scenario, interest rates tend to rise alo..

  Businesses have violated codes of ethics

Unfortunately, these days, we are inundated with news features in which businesses have violated codes of ethics. What are business ethics and please describe some modern day examples where such ethics have been challenged.

  A firm with monopoly power is able to set a markup price

To maximize profit, the monopolist increases output: A firm with monopoly power is able to set a markup price that is: Typical evidence for the existence of market power would be market prices:

  Assume which the present first generation consists

Assume which the present first generation consists of 1 million people, half of whom are women. If the total fertility rate.

  Evaluate two views utilizing income and substitution effects

President says that wages probably should be cut so that workers could not afford to miss so much work. Evaluate two views utilizing income and substitution effects in your analysis.

  The real value of money-price level falls

The real value of money _____ as the price level falls

  What are n predictions of model

Reasonable to assume that disutility of pollution is related to flow of new pollutants and it is thus adequate to use a static model. What are n predictions of model.

  How does this change driver behavior

Traditionally, taxi drivers were only paid by the mile. A couple of decades ago, Yellow cab experimented with paying the same per mile rate plus a fixed fee every time a customer got in the cab. How does this change driver behavior?

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