What is opportunity cost of reading 100 pages of sociology

Assignment Help Econometrics
Reference no: EM13199578

Maria can read 20 pages of economics in an hour. She can also read 50 pages of sociology in an hour. She spends 5 hours per day studying.

a.) Draw Maria's production possibilities frontier for reading economics and sociology.
b.) What is Maria's opportunity cost of reading 100 pages of sociology?

Reference no: EM13199578

Questions Cloud

Determine a shift in the demand curve : The energy Department estimates that domestic demand for natural gas will grow by more than 40 percent between now and 2025. Distinguish between a demand function and a demand curve.
What can you infer about the elasticity of demand : However, when the commissioner granted the 10 percent increase, revenues increased by only about 5 percent. What can you infer about the elasticity of demand for taxicab rides. What were taxicab drivers assuming about the elasticity of demand.
Describe foreign purchase to protect american manufacturing : Globalization is becoming very important in economic discussions. Describe a recent foreign purchase and whether it is better to source from overseas or should tariffs be in place to protect American manufacturing.
How to eliminate the deficit but raising taxes : (1) eliminate the deficit by cutting government spending and (2) eliminate the deficit but raising taxes. Which program has the least damaging effect on GDP. Just tell me how much GDP falls in each program and draw the correct conclusion.
What is opportunity cost of reading 100 pages of sociology : Maria can read 20 pages of economics in an hour. She can also read 50 pages of sociology in an hour. She spends 5 hours per day studying. a.) Draw Maria's production possibilities frontier for reading economics and sociology.
What might this mean in terms of future growth in the us : A hot topic in today's news is the rising cost of health care and how we, as a country can provide universal health coverage. Approximately 47 million individuals in the U.S. are uninsured or underinsured.
Does londonland confomr to the one third rule : For 3 years there was no technological change in Londonland but capital per hour of labor increased from $10 to $20 to $30 and real GDP per hour of labor increased from $3.80 to $5.70 to $7.13. Then, in the 4th year, capital per hour of labor rema..
How does the unemployment rate in may compare : A spike in the unemployment rate-the biggest in more than 2 decades-raised new concerns Friday that a weak labor outlook, high oil prices and continuing woes in the housing & credit markets are leading the US economy in to a painful recession.
Define entrants and reentrants into the labor force : In March 2007, the US unemployment rate was 4.4 percent. In August 2008 the unemployment rate was 6.1 percent. Use this information to predict what happened between March 2007 and August 2008 to the numbers of A. Job losers to and job leavers

Reviews

Write a Review

Econometrics Questions & Answers

  Describe cost estimation processes

What is the profit-maximizing price and output level. Solve this algebraically for equilibrium P and Q and alos plat the MC, D and MR curves. b. What profit do you expect that the firm will make in the first year? c. Do you expect this profit leve..

  Multiple regression model

Laura desired to make a multiple regression model based on advertising expenditures and coffee times price index. Based on her selection of all normal values she obtained the following:

  Find the cost depletion allowance the company can claim

NA Forest Resources purchased forest acreage for $500,000 from which an estimated 200 million board feet is recoverable. In its first year of operation, the company recovered 24 million board feet. Find the cost depletion allowance the company c..

  What rate return will the man receive

A man buys a corporate bond from a bond brokerage house for $925. The bond has a face value of $1000 and pays 4% of its face value each year. If the bond will be paid off at the end of 10 years, what rate return will the man receive

  Regression equation to predict average hourly earnings

This question refers to the estimated regressions in table 1 computed using data for 1988 from the United States Current Population opinion poll.

  Is pizzo''s firm the dominant firm in the industry

James Pizzo is the president of a firm that is the industry price leader; that is, it sets the price and the other firms sell all they want at that price. In other words, the other firms act as perfect competitors. The demand curve for this indust..

  What would be the effect on us gdp

Suppose that an auto company owned entirely by german citizens opens a new factory in south carolina. What sort of foreign investment would this represent Would the effect pm the U.S. GDP be larger or smaller

  Calculate the current value of the index

An investor bought a tax-free provincial bond, at a cost of $1000 which will pay $50 interest each year for 20 years. The bond will mature in 20 years and return the original $1000. If there is a 2% annual inflation during this period, what real r..

  How long would it take for the price level to double

If the CPI was 110 last year and is 121 this year, what is this year's rate of inflation? What is the "rule of 70" How long would it take for the price level to double if inflation persisted at (a) 2, (b) 5, and (c) 10 percent per year

  Calculate the economic feasibility in terms of making

As a Plant Manager your plant team informs you that they have found a way to increase the size of the manufacturing run from 10,000 to 18,000 units in increments of 2000 units. The set up cost is 150,000 and defects cost $120 for removal/repair.

  Write an equation for time allocation budget constraint

Use the given utility function and the budget constraint from part A to solve for Chip's best response function for the number of hours collecting firewood taking the number of hours Holly spends (WH) as given. C. Solve for the privately optimal ..

  How to use the opportunity cost approach

A company is considering replacing a painting machine purchased 9 years ago for $700,000. It has a market value today of $40,000. The unit costs $350,000 annually to operate and maintain. A new unit can be purchased for $800,000 and will have annu..

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