Q: Possibility A Economics History I 94 76 II 87 84 III 77 97 Table 2-1 Referring to Table…
A: Given: Possibility A Economics History I 94 76 II 87 84 III 77 97
Q: Dave's opportunity cost of producing 1 pound of green beans is ______ pound(s) of corn.…
A: Total possible production of each good is Product Green Beans = 80 Corn = 160
Q: Question 16: Scarcity or limited resources are ultimately what force us to make decisions.…
A: It is because of scarcity that people have limitations to make decision. People can't do have all…
Q: 1. Approximately what percentage of the world"s economies experience scarcity? A. 100% b. 75% c.…
A: Scarcity: Scarcity refers to the limited availability of resources than the required level.
Q: Production Possibilities Corn Rye (Bushels) (Bushels) 2,500 2,000 700 1,500 1,200 1,000 1,600 500…
A: GIVEN Production Possibilities Corn (Bushels) Rye (Bushels) 2,500…
Q: Which of the following lists includes only capital resources? Question 11 options: A) an…
A: Capital resources are the resources that are manufactured by man and used to produce goods and…
Q: xplain them using the terms resources, scarcity/scarce, rational decisions, efficient decisions.…
A: Any situation where making one choice would imply losing something else which is forgoing of an…
Q: describe an important of trade-off you recently faced. Give an example of some action that has both…
A: Trade off refers to the situation where some amount of goods should be given up in order to gain…
Q: (1) The opportunity cost of an activity is the lowest valued alternative forgone as the result of…
A: Opportunity cost refers to the monetary costs of lost options.
Q: Suppose that you are on a desert island and possess exactly 20 coconuts. Your neighbor, Friday, is a…
A: A budget line shows the various combinations of two goods that the consumer can afford.
Q: your microwave breaks. you originally paid 100 for the microwave. Amazon sells the same. microwave…
A: Meaning of Opportunity Cost: The term opportunity cost refers to the situation under which the…
Q: Please cite the given and provide solutions on how to arrive at the highlighted answer.
A: A lease payments is the monthly equivalent of rent that is explicitly stipulated under a binding…
Q: Timothy quits his job which pays $65900 a year, to enrol in a 2 year graduate program. his annual…
A: Opportunity cost means the value of the other option which is considered to the best after the…
Q: Possibility A Economics History 94 76 II 87 84 77 91 Table 2-1 Refer to Table 2-1. A student has…
A: Opportunity cost demonstrated as the forgone benefit or can say the increased cost of choosing one…
Q: List and discuss in detail (thoroughly and carefully), two examples of the scarcity that you have…
A: When there is the presence of resources being fewer than actually being required for the fulfillment…
Q: Attempts Average / 1 1. Understanding opportunity cost You work as an assistant coach on the…
A: Earnings per hour as a coach=$13 Carnival admission fees=$9 Attending the carnival includes two…
Q: Toyota has started a major expansion of a Texas factory. It has already spent $11 million and has…
A: To find the correct option we have to check which option minimizes the loss or gives more benefit so…
Q: __________ is the value of the next best alternative that is being given up. a. Production cost b.…
A: While producing any good or service, a producer employs a number of resources. It has to pay those…
Q: You bought a laptop at $3000 last year, its resale value now is $2000. It will cost $3500 to buy a…
A: The opportunity cost refers to the benefit of next best alternate.
Q: Combinations Rice Shoe A 50 0 B 45…
A: Answer is given below
Q: Beverly spends $100 on a teeth whitening kit. After one application, her gums are inflamed and it…
A: Opportunity costs represent the potential benefits a personal, investor, or business misses out on…
Q: Tom's opportunity cost of mowing lawns in terms of trimming bushes is trimmed bushes per mowed lawn.…
A: Tom's PPF is a straight line. PPF is a straight line because the opportunity cost is constant. If…
Q: As the environment changes, the assumptions on which the goals were based, and ultimately the goals…
A: Given the statement is As the environment changes, the assumptions on which the goals were based,…
Q: One of the business enterprise is manufacturing sanitary building materials, it could be the example…
A: Consumer Goods are those goods which are the basic necessity if consumers like food, clothing,…
Q: Wine B F C D Bread Refer to the diagram. Select which points match their proper designations.…
A:
Q: A mattress company can create mattresses to sell in retail stores/online or utilize the same…
A: The word "opportunity cost" is a macroeconomic concept that refers to resource shortage. Due to a…
Q: You own a DVD of the film 'A Beautiful Mind'. The opportunity cost of watching the DVD the second…
A: There are various cost in the economy like variable cost, fixed cost, and opportunity costs.…
Q: Timothy quits his job, which pays $77000 a year, to enroll in a 3-year graduate program. His annual…
A: 1.) Timothy chose to attend a 3-year graduate program instead of doing a job. In this case, the…
Q: HANDOUT 3 OPPORTUNITY COST: Examples A. Wanda paid $150 for a fully refundable plane ticket to San…
A: Opportunity cost is defined as the forgone benefit that would have been possible from an option not…
Q: Mr. Adam has recently graduated from NSU and is now thinking of starting an MBA in the USA. How can…
A: Companies employ a cost-benefit analysis to identify which decisions to make and which to avoid. The…
Q: 7 Total net benefits of an activity are maximised at the level when the marginal benefit (MB) of the…
A: Government uses fiscal policy to increase development of an economy by increasing aggregate demand.…
Q: Aroha has to choose among three possible activities to do on Sunday morning. She ranks her…
A: The opportunity cost of doing any activity is the sacrificed value of the next best alternative.…
Q: Opportunity costs arise due toa. resource scarcity.b. lack of alternatives.c. limited wants.d.…
A: Investors frequently ignore the opportunity cost. It refers to the hidden cost of not adopting a…
Q: aking Effective Decisions ften illustrated with a graph or a table, shows the results under…
A: the opportunity cost of a specific action choice is the deficiency of significant worth or advantage…
Q: Timothy quits his job, which pays $60 000 a year, to enrol in a 2-year graduate program. His annual…
A: Opportunity cost is an important concept in economics. Since resources are scarce, every time people…
Q: Alexandra's Production Possibilities Natalia's Production Possibilities Schedule Schedule Number of…
A: Alexandra's Production possibilities schedule Number of Scarves knitted per day Number of…
Q: Efficiency means that: Select one: O a. society has dependence on foreign energy sources b. society…
A: Use of something in such a manner that wasting can be minimised and outcome can be maximised.
Q: CHOICES: a. Both statements are TRUE b. 1st statement is TRUE, 2nd is FALSE c. Both statements are…
A: An economist is a person who analyses how individuals make choices and is interested in utilizing…
Q: In using tanks and trucks in a production possibilities curve with increasing opportunty cost…
A: A production possibility curve (PPC) shows various combinations of two goods that can be produced…
Q: In using tanks and trucks in a production possibilities curve with increasing opportunity cost,…
A: A Production Possibility Frontier is a graph that shows all the possible combinations of two…
Q: 50 II 40 30 IV 20 10 10 20 30 40 50 Number of Turkeys Number of Chickens
A: Opportunity cost refers to the cost associated with the trade-off between two goods or services when…
Q: In moving from combination D to C, the opportunity cost of producing 200 more autos is
A: The production possibilities curve “is a frontier between all combinations of products that can be…
Q: Timothy quits his job, which pays $50400 a year, to enrol in a 4-year graduate program. His annual…
A: Answer: Introduction: Opportunity cost: it refers to the amount people give up when they take an…
Q: Scarcity is a universal problem. Discuss any TWO (2) limited resources that you faced as a student.
A: One of the central problems of economics is the problem of scarcity which is present in every…
Cost of next best alternatives opportunity given up is called __________
Step by step
Solved in 2 steps
- What is the level of net benefits when one unit is produced? Number Units Produced 0 1 2 3 4 5 Multiple Choice 70. 80 50 20 Total Benefit 0 100 180 250 290 310 Total Costs 0 50 110 180 270 380 Saved < Prev____________ cost is the cost of the next best alternative forgone✓ Saved Which of the following production bundles would be considered efficient? P-cakes 60 a Question 4 b C d 50 44 40 34 20 Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. 0 60 Pancakes and 0 Bacon 0 Pancakes and 60 Bacon 34 Pancakes and 20 Bacon 20 44 Pancakes and 40 Bacon 40 60 Bacon D
- Al-Hinai's food manufäcturirig company has three alterniatives for manufacturing foods: Alternative 1: Manufacture,non-organie food afone and obtain a profit of 40 million RO Alternative 2; Manufacture organig food afone and obfain a profit of 60 million RO Alternátive 3: Manufacture both organic and non-Organiç foods and obțain a profit of 90 million RO The opportunity cost of the company is: (a) RO 30 million. b) RO 40 million deRO 60 milliðn (d) RO 90 millionPROBLEM You own a firm that offers organlc coconut oil. Your objective is to determine the number of coconut oil to be produced each month in order to maximize revenues. The table below shows the total benefits (revenues) and costs of producing various volumes of coconut oll (. Control Variable (in 500 ml bottle) Total Benefits Total Costs (B) (C) 100 200 300 400 2000 3800 5400 6800 100 300 600 1000 500 600 700 800 900 1,000 8000 9000 9800 10400 10800 11000 1500 2100 2800 3600 4500 5500 1. Use the marginal analysis technique to determine the quantity of organic coconut oil that will maximize net benefils. Present results in lable form and highlight the maximizing level. (. 2. Graphically illustrate letter B. Separate the graphs for TB – TC approach, MB = MC rule, and net benefit (maximum). The sequence of the graph: (1) TB - TC approach (topmost graph); (2) net benefit (middle graph); and (3) MB, MC, & MNB (last, 3rd graph). But be sure that the graphs are parallel in X-axis so as to…Need complete solution and fast!!
- Hi I wanted to see anyones thoughts on this problem here and if my chosen answer is correctNot sure what is the next stepAir pollution in the country of Gawanza has grown over the last ten years with an increase in manufacturing industries. The government of Gawanza now has a plan to reduce the CO2 emissions into the air by 10% per year over the next 10 years. What do you expect will happen? Group of answer choices The cost and benefits to Gawanza will be lowest in the last few years of implementing this plan. The cost and benefits to Gawanza will be highest in the last few years of implementing this plan. The cost will be the highest and benefits the lowest in year ten.