Question regarding the production possibilities curve

Assignment Help Business Economics
Reference no: EM13903664

Auto Bull's-Eye offers a 10-minute oil change and 30-minute brake check. There are two technicians who perform each of these services. Next week, the shop is offering a discounted oil change. How might this affect the production possibilities curve for next week?

The shop would decrease the brake-check price to eliminate scarcity.

The shop would increase worker pay to make up for the opportunity cost of not doing brake checks.

The shop would shift production to oil changes and away from brake checks.

The shop would shift production to brake checks and away from oil changes.

Reference no: EM13903664

Questions Cloud

Market demand for woozles : The market demand for woozles is given by: There is only one available technology, and it is employed by all producers actual and potential. It implies the following average cost function:
Test hypothesis-elevation of tree does not affect diameter : where x1 is the age, x2 is the elevation, x3 is the rainfall, x4 is the specific gravity, and Y is the tree's diameter, test the hypothesis that β2 = 0. That is, test the hypothesis that, given the other three factors, the elevation of the tree does ..
Would be less crime if everyone in society were monitored : Do these laws represent an unacceptable weakening of personal privacy, or are they sensible public safety measures? Should they be repealed? Should people convicted of other crimes also be monitored for life? Would there be less crime if everyone ..
Decorative art out of silver spoons : Paul and his friend Tori make decorative art out of silver spoons. They want to start a business that they can easily dissolve when they move on to their next project. Which of these will suit their needs best?
Question regarding the production possibilities curve : Auto Bull's-Eye offers a 10-minute oil change and 30-minute brake check. There are two technicians who perform each of these services. Next week, the shop is offering a discounted oil change. How might this affect the production possibilities curv..
Estimate the time required to find the optimal member of n : What is the computational time to find the optimal member of Na using the Bayesian Dirichlet score. Estimate the time required to find the optimal member of N?
How has the transportation security administration responded : Why have privacy groups objected to the installation of advanced imaging technology scanners at airport security checkpoints? How has the Transportation Security Administration responded to these objections?
What is the purpose of the calm act : Why have federal and state governments passed laws limiting access to cold products containing pseudoephedrine?
Write a matlab routine data matrix containing a multivariate : Write a MATLAB routine A = ChowLiu(X) where X is a D × N data matrix containing a multivariate datapoint on each column that returns a Chow-Liu maximum likelihood tree for X.

Reviews

Write a Review

Business Economics Questions & Answers

  Explain both the minimum and the maximum cardinality

explain both the minimum and the maximum cardinality

  What would the costs of each action be

what would the benefits of each action be (besides emissions reduction)? what would the costs of each action be?  How would you decide what was the best level of emission reduction?

  Explain how does the price elasticity of demand for corn

Explain how does the price elasticity of demand for corn oil influence the quantity-demanded of corn oil and the Total Revenue earned by sellers of corn oil.

  Distinguishes trademark from another symbol or group of word

Is it necessary to register a trademark? What are the benefits to registering a trademark? What distinguishes a trademark from another symbol or group of words?

  Supply and demand for product-elasticity of certain product

You will submit a 2 page paper based on an article about an economic topic. The paper should be a summary of the article and then analysis of the economic principles discussed (Supply & Demand for a product, Elasticity of a certain product, or analys..

  Draw the indifference curves and budget constraint

You are organizing a group of people to visit a state park for a day trip. You have to rent cars and hire drivers for the transportation. If you rent C cars, and hire D drivers, your utility function is U=min(C, D), because you have to find one drive..

  Many professional sports athletes have incentive clauses

Many professional sports athletes have incentive clauses in their contracts. These indicate tha: a) the team owner has asymmetric information b) the athlete might engage in moral hazard, which the team owner wishes to avoid. c)the athlete might engag..

  Elucidate deadweight loss from the tax

The price paid by buyers increases by $2 and the after-tax price received by sellers falls by $3. The government is able to raise $750 per month in revenue from the tax. Elucidate deadweight loss from the tax.

  What is the no-trade relative price of cars in Foreign

Suppose that each worker in the Foreign country can produce two cars or three TVs. Assume that Foreign also has four workers. Graph the production possibilities frontier for the Foreign country. What is the no-trade relative price of cars in Foreign?

  Market with inelastic demand-elastic supply at equilibrim

Draw a graph that shows a market with inelastic demand and elastic supply at equilibrium. Then, on your graph, draw what happens when the government subsidizes buyers. Note the price received by sellers and price paid by buyers. Who receives most of ..

  Elucidate what impact does the dollar appreciation

Illustrate what will the average total cost be after 1 unit is produced. Elucidate what impact does the dollar appreciation have on the firm's international competitiveness.

  Monopolist instead of set of perfectly competitive firms

What is the externality associated with an individual driving on a congested highway? How do tolls help alleviate this externality? How should tools be set? (Hint: would you always want the toll to be the same all day?) The steel industry pollutes th..

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