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(Shape of the PPF) Suppose a production possibilities frontier includes the following combinations.
Cars Washing Machines
0 1,000
100 600
200 0
A. Graph the PPF, assuming that it has no curved segments.
B. What is the cost of producing an additional car when 50 cars are being produced?
C. What is the cost of producing an additional car when 150 cars are being produced?
D. What is the cost of producing an additional washing machine when 50 cars are being produced? When 150 cars are being produced?
E. What do your answers tell you about opportunity cost?
(Production Possibilities) Suppose an economy uses two resoureces (Labor and Capital) to produce two goods (Wheat and Cloth). Capital is relatively more useful in producing cloth, and labor is relatively more useful in producing wheat. If the supply of capital falls by 10 percent and the supply of labor increases by 10 percent, how will the PPF for wheat and cloth change?
Show that for any level of output q, the minimum cost of producing q is $q. d. Explain how a 10% wage tax would affect the way in which the firm chooses to produce any given amount of output
Explain how global stratification impact local culture and expalin what are the positive does and the negative effects.
Capital, K, has a price of $16 perunit and labor, L, has a price of $8 per-unit. In the short-run capital is fixed at 8 units. Find the choice for labor necessary to produce 40 units of output at minimum cost.
What What marketing strategies should Radiance pursue in the next five years? Explain why the strategies you select would best fit the organization. in the next five years? Explain why the strategies you select would best fit the organization.
Now fill in the column for Marginal Cost. Illustrate what pattern do you see
Use Appendix A at the back of the text to show the compound annual rate of growth in earnings (n=4).
Illustrate which of the following is an example of the legal-regulatory environment surrounding advertising also promotional activities of businesses.
Mytown uses an interest rate of 6%. What is the EAC for Mytown's policy? What is the EAC for the optimal policy? What is the optimal policy?
Project B will yield $1.25 million three years from now, and Project C will yield $600,000 for two years, beginning two years from now. If the interest rate is 8 percent, which of these projects should the firm undertake?
All else equal, what is short-run effect of an increasing US output Y on US interest rate. All else equal, what is short-run effect of an increasing US prices P on US interest rate.
An industry's marginal abatement cost is MAC=2000-e. regulator controls emissions by selling 500 permits. Though, industries are also given option of paying a fee of $1000 per unit of emissions for which y do not hold a permit. Draw a diagram illu..
Hong Kong dollar, and the one-year forward exchange rate is 9 yen per dollar. Determine whether or not there is an arbitrage opportunity and, if possible.
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