Total opportunity cost of producing second unit of clothing

Assignment Help Business Economics
Reference no: EM13818504

Combination      Food      Clothing

A             0              4

B             7              3

C             13           2

D             18           1

E              22           0

1. What is the marginal opportunity cost of producing the second unit of clothing?

2. What is the total opportunity cost of producing the second unit of clothing?

3. What is the marginal opportunity cost of producing the third unit of clothing?

4. What is the total opportunity cost of producing the third unit of clothing?

Reference no: EM13818504

Questions Cloud

What is the marginal opportunity cost of producing : Use the above graph to construct a production possbililites curve placing corn on vertical axis and paper on the horizontal axis. What is the marginal opportunity cost of producing the first unit of paper? The marginal opportunity cost of producing t..
Price-discriminating monopolist should divide sales : In the long run, the greater burden of a specific tax will usually be absorbed by. A monopolist with multiple plants should allocate total production among plants so that. A price-discriminating monopolist should divide sales among markets so that
What level of output maximizes revenue : You are the manager of a monopoly, and your demand and cost functions are given by P=300-3Q and C(Q)=1500+2Q^2, respectively. MR(Q)=300-6Q and MC(Q)=4Q. What level of output should this monopolist produce in the short run? What price should this mono..
How does economic cost work : How does economic cost work? I know that economic cost: cost of resources used to produce a good, this includes opportunity cost. I don't understand how opportunity cost is included in that though, can someone give me an example?
Total opportunity cost of producing second unit of clothing : What is the marginal opportunity cost of producing the second unit of clothing? What is the total opportunity cost of producing the second unit of clothing? What is the marginal opportunity cost of producing the third unit of clothing? What is the to..
Rest of the amount was financed : As soon as she graduated with an engineering degree and started working, Jamie bought a car for $40,000. A down payment of $10,000 was paid by her dad as graduation gift. The rest of the amount was financed with Generous Motors at 3% nominal interest..
How to determine the individual variables : How do I determine the values for P,D,Q for an ARIMA model? I have already done the differencing; I am having trouble understanding how to determine the individual variables.
Monopolistic competition market structure : Robert has a passion for making ice cream. Assume that ice cream parlors have a monopolistic competition market structure. Between the local Amy's, Cold Stone Creamery, Marble Slab, Ben & Jerry's and Baskin Robbins, he has an uphill battle to break i..
Suppose one economist believes target rate of unemployment : Suppose one economist believes the target rate of unemployment is 4.2 percent while another believes it is 5.3 percent. Using Okun’s rule of thumb, by how much would you expect their estimates of potential GDP to differ in an $11 trillion economy?

Reviews

Write a Review

Business Economics Questions & Answers

  Resource for very long term trade data

Can anyone recommend a resource for very long term trade data? (1500-2014). I have looked and found bits and pieces here and there but haven't come across any single data-set covering all of it. I am thinking of mashing my own together but I really d..

  Role of the federal reserve in mitigating negative impact

Assess the role of the Federal Reserve in mitigating the negative impact of the 2008 financial meltdown on the economy.

  Collection of goods and services for the last ten years

The GDP price index is A. a measure of the price of a specified collection of goods and services compared to the average of the prices of a highly similar collection of goods and services for the last ten years.

  Denied boarding despite holding a confirmed reservation

As a consequence of a 1976 court case that Ralph Nader won against an airline that had "bumped" him, the federal government adopted a rule requiring airlines to compensate people who were denied boarding despite holding a confirmed reservation.

  Q1 consider the labor market for health care which

q1. consider the labor market for health care which initially is in equilibrium. suppose the output price for health

  The fed can reduce the money supply by

The Fed can reduce the money supply by,

  Q 1 suppose at columbia university grade point average gpa

q. 1. suppose at columbia university grade point average gpa and sat scores are related by the conditional expectation

  Increase in quantity demanded

If there is a 10% decline in the cost of women's fur coats and a 25% increase in quantity demanded Illustrate what is the elasticity.

  What role property rights play in creating common property

What role do property rights play in creating common property resources? Why are common property resources subject to market failure due to non-excludability?

  Law of demand implies that when the price of a good rises

The law of demand implies that when the price of a good rises, people buy less of it. This makes the demand curve slope monotonically downwards. A textbook exception is the so-called Giffen good that by definition behaves in the opposite way.

  Protect the farmers entitlement with a liability rule

Consider a rancher-farmer economy. Assume that the rancher has no choice over how many cows to raise but either the farmer or the rancher (or both) can build a fence to eliminate the crop damage of $150. However, the costs of installing the fence are..

  Is it ever morally acceptable to use lethal force

Is it ever morally acceptable to use lethal force (ex. pressure cooker bomb) against as civilian who is oppressing you politically and economically but is not life threatening your life? why or why not?

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd