QUESTION 3 The biological relationship between the growth for the fish population and the size of the fish population is g= 15S(1-S/5) where g is the growth of the fish population and S is the size of the population. The size of the harvest is a function of the amount of human effort expended b=3ES where E is the level of effort. Market price of fish per unit is $100 and a constant marginal cost of effort is $50. If we rewrite the sustainable harvest/catch level equation in telms of effort level, E, then we have bs= E E-
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- please argunt !!!!!!!!!! state the three stages of productiona) What is the island's maximTwo fields can be planted on Robinson Crusoe's island. Each can be used to grow oranges or apples. If Field A is planted entirely with oranges, it will produce 2 bushels (bu.) of oranges. If A is planted entirely with apples, it will yield 4 bu. of that crop. For Field B, the numbers are reversed: B will produce 4 bu. of oranges if entirely planted with oranges, or it will produce 2 bu. of apples if entirely devoted to that crop. IF A FIELD IS SPLIT BETWEEN THE TWO CROPS, the output of each crop from that field will be proportional to the fraction of the field planted in that crop. For example, if half of B is planted with each crop, then it will produce 2 bu. of oum possible output of oranges? __________ b) Graph your answer in a) on the axes found on the next page and label it point H..(Put oranges on the horizontal axis and apples on the vertical axis) c) What is the island's maximum possible output of apples? __________ d) Graph your answer in c) on the…Table 3-7Assume that the farmer and the rancher can switch between producing meat and producing potatoes at a constant rate. Labor Hours Needed to Make 1 Pound of Pounds Produced in 24 Hours Meat Potatoes Meat Potatoes Farmer 6 4 4 6 Rancher 3 8 8 3 Refer to Table 3-7. Which of the following combinations of meat and potatoes could the rancher not produce in 24 hours? Group of answer choices 5 pounds of meat and 1 pounds of potatoes. 2 pounds of meat and 2 pounds of potatoes. 1 pounds of meat and 3 pounds of potatoes. 4 pounds of meat and 1 pound of potatoes.
- Specify and explain the typical shapes of marginal-benefifit and marginal-cost curves. How are these curves used to determine the optimal allocation of resources to a particular product? If current output is such that marginal cost exceeds marginal benefifit, should more or fewer resources be allocated to this product? Explain.What does a production possibilities frontier illustrate?What is the difference between microeconomics and macroeconomics?
- In choosing a production technology, how will firms react if one input becomes relatively more expensive?What are diminishing marginal returns?Suppose earlier they used to decide half of their in producing Apple pies and remaining half in producing Cupcakes. Now they have decided to "specialize" in accordance to their comparative advantages. Then in a work week that consists of 5 work days, the output of Apple pies and cupcakes will increase by the amount of b C Quantity of Apple Pies d 100 40 PPFDavid Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. 30 Apple pies and 100 Cupcakes respectively 200 Quantity of Cupcakes 200 Apple pies and 350 Cupcakes respectively PPFAlexis 150 Apple ples and 500 Cupcakes respectively 400 250 Apple pies and 100 Cupcakes respectively
- LCD televisions 120- 90- 60- 30- d 20 B 40 60 Plasma televisions C 80 100 OA. 30 LCD televisions that must be forgone to produce 20 additional plasma televisions. OB. 120 LCD televisions that must be forgone to produce 40 additional plasma televisions. OC. 30 LCD televisions that must be forgone to produce 60 additional plasma televisions. D. 90 LCD televisions that must be forgone to produce 20 additional plasma televisions.The table shows the output of bikes and skateboards for Luke and Han (the end points of their respective PPCs). They can produce either or some linear combination of both Bikes (B) and Skateboards (S). With this information, select the choice that is a true statement. a b Question 9 C Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. d 1/11 answered ii Luke has the comparative advantage in producing Bikes and Skateboards. Han has the comparative advantage in producing Bikes and Skateboards. Luke Han Question 10 Answers ar Bikes 50 40 Skateboard Luke has the comparative advantage in Bikes and Han has the comparative advantage in producing Skateboards. Luke has the comparative advantage in Skateboards and Han has the comparative advantage in producing Bikes. 70 64Meat (pounds) 120 A 90 D 60 В 30 Vegetables (pounds) 40 60 80 100 120 140 160 Point B is: O Infeasible Inconsistent Inconceivable O Inefficient 20