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A brewery produces two kinds of beer, stout and IPA . Each batch of stout sells for $60 per unit while each batch of IPA sells for $108. Both products require malt, hops, barley, filtered water, and yeast, measured in physical "units" for convenience. Each batch of stout uses 1 unit of malt, 1 unit of hops, 2 units of barley, 5 units of yeast, and 10 units of filtered water. The corresponding requirements for IPA are: 5 units malt, 2 units hops, 1 unit barley, 8 units yeast and 9 units water. On any given day, the brewery has on hand 150 units of malt, 90 units of hops, and 150 units of barley. The brewery pays $2 per unit for filtered water and $4 per unit of yeast.
In 2010, Forbes magazine listed Bill Gates, the founder of Microsoft, as the richest person in the United States. His personal wealth was estimated to be $53 billion. If there were
1. An unemployed individual decides to spend the day fishing. The opportunity cost of fishing is equal to A) The cost of bait and any other monetary expenses. B) Zero, becaus
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Crowding out is associated with: A. an increase in business investment resulting from an increase in government borrowing and higher interest rates. B. an increase in private savin
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