Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Michelle and James each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle devotes all her resources to growing potatoes, she can raise 200 pounds of potatoes per year. If she devotes all her resources to raising chickens, she can raise 50 chickens per year. (If she apportions some resources to each, then she can produce any linear combination of chickens and potatoes that lies between those extreme points. If James devotes all his resources to growing potatoes, he can raise 80 pounds of potatoes per year. If he devotes all his resources to raising chickens, he can raise 40 chickens per year. (If he apportions some resources to each, then he can produce any linear combination of chickens and potatoes that lies between those extreme points.)
Michelle200 = potatoes (1potato = 1/4 Chicken) - comparative advantage50 = Chickens
James80 = potatoes40 = Chickens (1 potato = 2 Chickens) - comparative advantage
Suppose that they are thinking of each specializing completely in the area in which they have a comparative advantage, and then trading at a rate of 2.5 pounds of potatoes for 1 chicken, would they each be better off?
Explain what happens to the coefficient on coll in terms of its magnitude and its statistical significance when points , rebounds , and assists are added to the regression. Why do you think this happened?
Suppose that some variable is growing at constant rate. a. Prove that the natural logarithm of that variable is a linea r function of time. b. Find the intercept and slope of the linear function in part a.
The agency of Labor Statistics follows 5-steps to calculate Consumer Price Index. Determine three strengths and three weaknesses of the Consumer Price Index calculation.
Consider the same two firms as above with marginal costs 10 and 40, facing a demand p = 100 - q. a. Find the market price and quantities produced if firm 1 moved first, followed by firm 2 b. Find the market price and quantities produced if..
How much of each good will he demand in this case? (The price of x1 is 3$ but his income has decreased)D) Calculate utilities obtained by bundles without tax and with income tax. Draw Jack's best bundles in a graph. (Budget curves, best bundles an..
A firm recieves a shipment of 100 personal computers for use by its staff. Of these 100 computers, five are defective and not usable without repair. In a particular office, there are five employees. What is the probability that each of these five e..
Consider a farm with 1500 acres total where 1000 acres are in wheat and 500 are in soybeans. Wheat yield is 90 bushels/acre, wheat price is $3/bushel, and total operating expenses per acre are $100. Soybean yields are 35 bushels/acre, soybean pric..
A factory benefits from discharging effluent, q, into a lake. The marginal benefit function is given by 60-2q. The pollution causes damages to two nearby communities. The marginal damages to Community A are 1q. The marginal damages to community B ..
You have given the following data about the amount your firm can manufacture per day given the number of workers it hires.
A new truck can be purchase for $84,000. Its expected useful life is six years, at wich time market value will be zero. Annual receipts less expenses will approximatetely $18,000 per year over the six-year study period. Use the PW method and MARR ..
NA Forest Resources purchased forest acreage for $500,000 from which an estimated 200 million board feet is recoverable. In its first year of operation, the company recovered 24 million board feet. Find the cost depletion allowance the company c..
A frim determines that X units of its product can be sold daily at P dollars per units per day is C(x) =120-1/2p and where the cost of producing X units per day is C(X)=10+30x A) Assuming that the production capacity is 40 units per day, determine..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd