Reference no: EM13961432
Opportunity cost and production possibilities
Raphael is a skilled toy maker who is able to produce both trains and kites. He has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of his time.
On the following graph, use the blue points (circle symbol) to plot Raphael's initial production possibilities frontier (PPF).
Suppose Raphael is currently using combination D, producing one train per day. His opportunity cost of producing a second train per day is(1 / 2 / 14 / 16) kites per day.
Now, suppose Raphael is currently using combination C, producing two trains per day. His opportunity cost of producing a third train per day is(1 /6 /8 /14) kites per day.
From the previous analysis, you can determine that as Raphael increases his production of trains, his opportunity cost of producing one more train(decreases/increases/remains constant) .
Suppose Raphael buys a new tool that allows him to produce twice as many trains per hour as before, but it doesn't affect his ability to produce kites. Use the green points (triangle symbol) to plot his new PPF on the previous graph.
Because he can now make more trains per hour, Raphael's opportunity cost of producing kites is(higher than/lower than/the same as) it was previously.
|
Degree of precedence relationship among the activities
: Develop a project network consisting of at least 20 steps that should be done to complete the project. As the case suggests, keep the level of detail for these activities general, rather than specific. Be sure to indicate some degree of precedence re..
|
|
What is the total kinetic energy of rotation
: A helicopter has 3 blades, each of them are 5.20m long and has a mass of 220kg.(each blade has a mass of 220kg, not the sum of the 3) The rotor is rotating at 385 rev/min. What is the rotational inertia of the rotor assembly about the axis of rot..
|
|
Purchasing additional labor and machine time
: An extra hour of machine time costs $100, and an extra hour of labor costs $50. If the company has $100 to invest in purchasing additional labor and machine time, would it be better off buying I hour of machine time or 2 hours of labor?
|
|
Businesses is least likely to own the products it sells
: Which of the following businesses is LEAST likely to own the products it sells? All of the following statements are likely to be true regarding a fast food franchise EXCEPT: Rosvo and Company is a wholesaler-sponsored group that works with independen..
|
|
Opportunity cost and production possibilities
: Raphael is a skilled toy maker who is able to produce both trains and kites. He has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of his time.
|
|
How the general public perception of healthcare quality
: In this assignment, you will assess how the general public's perception of healthcare quality is influenced by the mass media
|
|
Find the acceleration of point a
: The motion of the 3-in.-radius cylinder is controlled by the cord shown. Knowing that end E of the cord has a velocity of 12 in./s and an acceleration of 19.2 in./s^2, both directed upward, determine the acceleration (a) of point A, (b) of point B..
|
|
What is the total repositioning distance
: How much is perfect information about just the winter weather worth and how much is perfect information about both the winter and spring weather worth?
|
|
Explain the differences in marketing of the service
: Identify a physical product from around your home or workplace and a service provider which you use at your home or workplace. Navigate to the threaded discussion below and respond to the following: Explain the differences in marketing of the service..
|