Use infinite line tool to draw linear production possibility

Assignment Help Business Economics
Reference no: EM131245949

Cartman and Kyle are castaways on an island and spend their days picking papayas and mangos. Cartman has a comparative advantage in picking papayas. Kyle has a comparative advantage in picking mangos.

Part 1: Use the infinite line tool to draw the linear production possibility frontier that illustrates Cartman's trade-off between picking papayas and picking mangos, label it as PPF.

Part 2: Assume that Cartman will consume all of what he produces. Plot a point that illustrates a consumption bundle for Cartman if he does not trade with Kyle. Label this point A.

Reference no: EM131245949

Questions Cloud

What is effect of years of schooling on economic development : What is the effect of years of schooling on economic development? Once we control for the quality of education, what happens to the effect of years of schooling on economic development?
About freedom of religion : What was it about freedom of religion in the United States that led to utopian communities and new religions where sexual experimentation was central?
Determine your optimal per unit price : Based on the best available econometric estimates, the market elasticity of demand for your firms product is -2. The marginal cost of producing the product is constant at $150, while average total cost at current production levels is $225. Determine ..
What is the accumulated value of series of payment : What is the present value of the following future receipt: $16,000 63 years from now at 10.5% compounded annually? What is the accumulated value of series of payment of $ 250 at the end of each year for 25 years at 12.5% compounded annually?
Use infinite line tool to draw linear production possibility : Cartman and Kyle are castaways on an island and spend their days picking papayas and mangos. Cartman has a comparative advantage in picking papayas. Kyle has a comparative advantage in picking mangos. Use the infinite line tool to draw the linear pro..
Explain how large increase in the income level : Explain how a large increase in the income level in U.K., along with no growth in the U.S. in come level lwill effect U.K. demand for U.S. goods and the value of british pounds. ?
Calculate the residual of each observation : Suppose you are given the following simple dataset, regress Y on X: y=β0+β1x+u X Y 1 2 2 5 5 7 4 6 1) Calculate and . Show algebraic steps. Interpret and Calculate the predicted(fitted) value of each observation. Calculate the residual of each observ..
Consider drug shop that sells malaria treatment : Consider a drug shop that sells malaria treatment. Product can be stored costlessly from dry to rainy reason but it is impossible to store any crop from rainy to dry season. Dry season demand for malaria treatment is Xd=120-4Pd and the supply of mala..
Relationship in economics-business concepts-social status : Discuss the relationship between economics, business concepts (such as targeted marketing), social status, and wellness. Discuss how the relationship you describe relates to the concept of wellness as defined in this course and how it relates to spec..

Reviews

Write a Review

Business Economics Questions & Answers

  Determine tax that would in a monopolistic market producing

Determine tax that would in a monopolistic market producing socially efficient output. Assuming that no attempt is made to monitor or regulate pollution, which market structure yields higher social welfare. Discuss.

  Impact would this have on the market for a box of granola

In December 1992, the government began requiring that food contain labels with nutritional information. The information had to be verified by independent laboratories. The price of verification was $20,000 per food item. What impact would this have o..

  Illustrate the use the orange points square symbols

Illustrate the use the orange points square symbols to plot the portion of the supply curve that corresponds to prices where there is positive output.

  Game Plinko on Price is Right a contestant drops a chip

In the game "Plinko" on The Price is Right a contestant drops a chip, which randomly falls into a slot that is market with a dollar designation. There are nine slots, two of which are market $0. tow are marked S100, two are market $500, tow are marke..

  Determine whether the good is exclusive-rival-both

For each of the following scenarios determine whether the good is exclusive, rival, both, or neither.

  Qthroughout history the most popular form of money has been

q.throughout history the most popular form of money has been gold.a. provide 3 reasons why gold has been such a popular

  What are freely floating exchange rates all about

What is happening to the value of the U.S. dollar these days? What causes the value of the U.S. dollar to rise or fall? Who demands U.S. dollar? Who supplies U.S. dollar? When we purchase the German products, our demand for euro is going up or down? ..

  Describe what happens after the technological change

Describe what happens after the technological change. What happens to the wage in the long run? What happens to the population size in the long run?

  More energy-efficient and environmental-friendly equipment

A manufacturing plant is planning to replace outdated equipment with more energy-efficient and environmental-friendly equipment. Two models are under consideration. Model A is sold for $159,000 and can produce at an optimum speed of 78 unit/hour.

  What is the purchasing power parity theory of exchange rates

What is the "purchasing power parity" theory of exchange rates? If the price of a representative bundle of tradable goods is currently $5000 in the U.S. and 550000 yen in Japan, is the $ undervalued or overvalued when the exchange rate is 90 yen per ..

  Determine the impact of the proposed govt policy on business

Suppose you are the manager of a home-building company and the government is considering eliminating the deduct-ability of mortgage interest payments. A Typical consumer's marginal tax rate is 25% and the elasticity of demand for new homes is -1.5..

  Competitive disadvantage in every sector of their economies

The world’s poorest countries are at a competitive disadvantage in every sector of their economies. They have little to export. They have no capital; their land is of poor quality; they often have too many people given available work opportunities; a..

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