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Product Possibilities Curve Worksheet
Here is the production possibilities table for war goods and civilian goods: Production Alternative Types of Production A B C D E Automobiles 0 2 8 Missiles 30 27 21 12
a. Draw a production possibilities curve for automobiles and missiles using the data above.
b. Label the points where the economy would be efficient (A), underutilized (B) and unattainable (C).
c. What is the opportunity cost of moving from point A to point B?
d. What is the opportunity cost of moving from point B to point C?
e. What is the opportunity cost of moving from point D to point E? What are the two things that can cause a PPC to shift? Economists often say. There is no such thing as a free lunch how does this relate to opportunity costs?
The first fundamental welfare theorem gives the conditions under which the private market can lead to a particular efficient outcome. A Pareto efficient allocation is one that yields a fair outcome. A social welfare function summarizes society’s pref..
A company that makes printers has determined that the dollar cost of producing printers per month is given by the quadratic equation:
q1. beer n pizza is complements because they are often enjoyed together. when the price of beer rises what happens to
How consumers make choices? How do wages affect labor supply?
In August 2015, Turing Pharmaceuticals raised the price of Daraprim from $13.30 a tablet to $750, an increase of 5,456 percent (Over and Silverman 2015). Darapr
What is the legal obligation of employers, PCBUs and employees regarding the consultative process for WHS?
Some lenders charge an up-front fee on a loan, which is subtracted from what the borrower receives. This is typically described as "points" (where one point equals 1% of the loan amount). The federal government requires that this be accounted for in ..
When economists speak of "marginal," they mean. Managers undertake an investment only if. Total costs increase from $1,500 to $1,800 when a firm increases output from 40 to 50 units. Which of the following is true if marginal cost is constant?
Compute the per month cost including interest, taxes and insurance (use above formula to get the taxes and insurance cost) for a ARM.
Thinking specifically about Disney theme parks, how does Disney connect with the target market?
The margin requirement set by the Federal Reserve is the
An important point is about customer expectations. What customer expectations are there with respect to What, When and By whom in a project? What would you use to determine if the project was successful? What would a customer use?
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