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Question: Kim can produce 40 pies or 400 cakes an hour. Liam can produce 100 pies or 200 cakes an hour.
a. Calculate Kim's opportunity cost of a pie and Liam's opportunity cost of a pie.
b. If each spends 30 minutes of each hour producing pies and 30 minutes producing cakes, how many pies and cakes does each produce?
c. Who has a comparative advantage in producing (i) pies and (ii) cakes?
Even though many school zones don't have much traffic and aren't regularly. Why might this be the case even in the absence of strong government intervention?
1. This question refers to income distribution. (1) what is a Lorenz curve? Draw one, labeling the axes (2)Explain why a Lorenz curve can never lie to the left or above the 45 degree line (3)Using a Lorenz curve diagram, explain how to calculate ..
What is the effect of the study on Sarbucks in the short run? How do variable and fixed costs change? What happens to Sarbucks' competitors?
Describe your assessment of the effectiveness of both negotiators, their negotiating styles, and provide suggestions for improvement of each person's negotiation skills.
Using the order condition of identi?cation, determine which of the four equations are identi?ed, either exact or over.
assume that the regulator knows the marginal cost of abatement fairly well but there is uncertainty about marginal
Bob's lawn mowing service is a profit-maximizing competitive firm. Bob mows lawns for $27.00 each. His total cost each day is $280 , of which $30 is a fixed cost.
You have been asked to assist your organization's marketing department to better understand how consumers make economic decisions. Write a 1,050-word analysis that includes the following: Include Introduction & conclusion as well.
car breaks down and you are deciding to have it repaired. The most relevant issue in this economic decision is:A. How much you spent on past repairs on the car B. How much you paid for the car when you bought it
Suppose you win a small lottery and you are given the following choice: You can (1) receive an immediate payment of $10,000 or (2) three annual payments, each in the amount of $3,600, with the first payment coming from one year from now, the second t..
How can you describe this matrix? 3. What is B' ? 4. What is AB' ? What is B' A ? What can you say about the relationship between A and B' ? 5. What is (AB)' , the transpose of AB ? Verify that this is equivalent to B' A'.
For this discussion board, explain one of the reasons why policymakers usually focus on demand-side policies to achieve their macroeconomic goals?
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