What is the marginal cost of producing the second car

Reference no: EM13161965

1. ____ has the absolute advantage in sending emails while ____ has the absolute advantage in typing pages.

a. Jennifer; Jennifer
b. Jennifer; Brad
c. Brad; Jennifer
d. Brad; Brad

2. What is Brads marginal cost of sending 1 email?
a. 1/2 of a typed page
b. 2/5 of a typed page
c. 2 typed pages
d. 2.5 typed pages

3. The person with the comparative advantage in sending emails has the _____ marginal cost of sending an email. Based on this fact, _____ has the comparative advantage in sending emails.

a. Lower; Jennifer
b. Lower; Brad
c. Higher; Jennifer
d. Higher; Brad

4. Assume that Jennifer and Brad work together to send emails and type pages. Which of the following points would NOT be on Jennifer and Brad's joint production possibility frontier? (Note: It does not matter which task you measure on which axis for this problem. If it helps, assume that emails are on the x-axis and pages are on the y-axis).

a. 55 emails and 0 pages
b. 30 emails and 10 pages
c. 25 emails and 15 pages
d. 0 emails and 25 pages

344_What is Brads marginal cost.png

5. Based on the graph above, ______ has the absolute advantage in brownie making, while _____ has the comparative advantage in brownie making.

a. Paxton; Amanda
b. Amanda; Paxton
c. Paxton; Paxton
d. Amanda; Amanda

Use the figure below to answer question #6:

675_What is Brads marginal cost1.png

6. Compared to point A, the marginal cost of producing good Y at point B is
a. Higher
b. The same
c. Lower
d. More information is needed to answer this question.

7. If a large amount of skilled labor immigrates into the country, which allows the available resources to produce more of goods X and Y, which of the following would occur?
a. The y-intercept of the PPF will rise, and the x-intercept of the PPF will fall.
b. The y-intercept of the PPF will rise, and the x-intercept of the PPF will rise.
c. The y-intercept of the PPF will fall, and the x-intercept of the PPF will fall.
d. The y-intercept of the PPF will fall, and the x-intercept of the PPF will rise.

Use the following information to answer questions #8-#9.

The table below represents different points along a production possibilities frontier:

1331_What is Brads marginal cost2.png

8. What is the marginal cost of producing the second car?
a. 500 cookies
b. 750 cookies
c. 1750 cookies
d. 2750 cookies

9. Which of the following points would be considered infeasible?
a. (0 cars, 2000 cookies)
b. (2 cars, 1750 cookies)
c. (2.5 cars, 300 cookies)
d. (3 cars, 1500 cookies)

10. Which of the following would decrease the demand for movie tickets?
a. An increase in the price of move tickets
b. A decrease in the price of popcorn, a complement in consumption
c. An decrease in income, and movie tickets are a normal good
d. Both a & c are correct

11. How does a decrease in demand for movie tickets affect equilibrium in the market for movie tickets?

a. Equilibrium price will rise, and equilibrium quantity will be indeterminate
b. Equilibrium price will fall, and equilibrium quantity will fall
c. Equilibrium price will fall, and equilibrium quantity will rise
d. Equilibrium price will be indeterminate, and equilibrium quantity will fall

Download:- ECON.pdf

Reference no: EM13161965

Questions Cloud

Determine the molarity of a solution : Determine the molarity of a solution made by dissolving 20.0 g of NaOH in sufficient water to yield 436 mL of solution.

What volume of solution was used : A bottle containing 350 g of cleaning solution is used for carpets. If the cleaning solution has a specific gravity of 0.850, what volume of solution was used?

What is the speed of the proton : A proton in a linear accelerator has a de Broglie wavelength of 139 pm what is the speed of the proton?

Calculate the specific heat of ammonia : You need 70.2J to raise the temperature of 34.0 g of ammonia, NH3 (g), from 23.0C to 24.0C. Calculate the specific heat of ammonia.

What is the marginal cost of producing the second car : How does a decrease in demand for movie tickets affect equilibrium in the market for movie tickets and what is the marginal cost of producing the second car?

How many grams of i2 could be produced : 80.0 grams of diiodine pentoxide reacts with 28.0 grams of carbon monoxide. How many grams of I2 could be produced?

What concentration of aqueous cacl2 solution freezes : What concentration of aqueous CaCl2 solution freezes at -10.2ºC? The freezing point of pure water is 0.0ºC and Kf of pure water is -1.86ºC/m.

How much heat is liberated at constant pressure : Fe(s) + 2HCL(aq)goes to FeCl2(aq) + H2(g) Change in enthalpy is -87.9kJ. How much heat is liberated at constant pressure if .368 g of iron reacts with 18.8mL of 0.568 M HCl?

Calculate the energy required to achieve the transition : Calculate the energy (joules) required to achieve the transition from the ground state to the first excited state for this system.

User Account

All Pages