Calculate the opportunity cost of producing olive oil

Assignment Help Econometrics

Reference no: EM131198999

The following table shows for Greece and Italy the hourly output per worker measured as quarts of olive oil and pounds of pasta: Output per Hour of Work Olive Oil Pasta Greece 4 2 Italy 4 8 Calculate the opportunity cost of producing olive oil and pasta in both Greece and in Italy.

Reference no: EM131198999

Questions Cloud

Determine the use of radial flow pumps and axial flow pumps : In terms of pumping performance, how should engineers determine the use of radial flow pumps and axial flow pumps?

Application in java to accept the number : Develop an application in Java to accept the number of students in a section for a subject and for each student accept the student number, Student name, prelim marks, midterm marks, final marks.

What is the opportunity cost of an additional unit of goods : What is the opportunity cost of an additional unit of the composite good?

Why is ostrich understating the costs of this program : Ostrich argues that, based on the set of people currently below the poverty line, this would cost $98 billion per year. - Why is Ostrich understating the costs of this program?

Calculate the opportunity cost of producing olive oil : Calculate the opportunity cost of producing olive oil and pasta in both Greece and in Italy.

What legal and ethical responsibilities do companies have : What legal and ethical responsibilities do companies have regarding the protection of the environment? Compare the American legal system to the international legal environment of business.

What effect would given policy have on work effort : The government is considering changing this policy such that the benefit level is reduced by $1 for every $2 of work income.-What effect would this policy have on work effort?

Most valuable budgeting tool : Why is the NPV method for budgeting accepted as the most valuable budgeting tool? If you were not allowed to use NPV for a budget you were developing, what other method(s) would you use? Explain your choices.

How might free markets help reduce global poverty : How might free markets help reduce global poverty? How might they impede that goal?

User Account

All Pages