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maria and emmanuel need to cut logs for shelter or gather food to stay alive per day. maria produces 10 cut logs of shelter and 10 baskets of food. emmanuel produces 5 cut logs of shelter and 8 baskets of food.a) what is the opportunity cost for maria to cut logs and to gather food baskets? explain your answer b)what is the opportunity cost for emmanuel to cut logs and gather food baskets?explain your answer c)what allocation of tasks maximizes total output for the least amount of effort? why?explain your answerd) what would be the total output after 4 days using the allocation of taks from question( c-above)?explain your answer
Explain why would economists be very concerned if the annual interest payments on the debt sharply increased as a percentage of GDP.
Will the homeowner retrofit also which insurance policy will the homeowner buy. Explain will the insurance company make a profit (on average) given the homeowners choice.
Find out the price elasticity of demand regarding to the money price using "arc elasticity."
Assume that, from an initial consumer equilibrium position, the price of good X falls-explain how and why the consumer's relative consumption of two goods will change.
The price of Canadian-grown peaches skyrockets during an unusually cold summer that reduces the size of the peach harvest and Technological improvements in the microchip lead to price reductions for personal computers and an increase in computer sale..
Explain how are the slope of a production possibilities frontier and the opportunity cost of the goods related.
In order to maximize profits, monopolies produce where: MARGINAL REVENUE = MARGINAL COST
Explain how do you balance human suffering with the economic realities.
Find the optimal level of inputs L* and K* that minimize the cost of producing Q0. What is the cost of production associated to L* and K*?
Assume demand shifts out to the right by 10 percent, the elasticity demand is 1.5 and the elasticity of supply is .5, By how much will price change.
Discuss three ways in which the Federal Reserve can change the money supply.
Discuss the changing economic variables in China that influenced McDonald's expansion strategies.
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