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The following numbers measure the tradeoff betweengrades and income:TotalHoursHoursStudying GPAHoursWorking Income60 60 4.0 0 $060 40 3.0 20 $10060 30 2.0 30 $15060 10 1.0 50 $25060 0 0.0 60 $300a. Calculate the opportunity cost of an increase in the number of hours spent studying in order to earn a 3.0 grade point average (GPA) rather than a 2.0 GPA.b. Is the opportunity cost the same for a move from a 0.0 GPA to a 1.0 GPA as it is for a move from a 1.0 GPA to a 2.0 GPA?c. What is the opportunity cost of an increase in income from $100 to $150?
Suppose a second individual has the followingtradeoffs between income and grades:TotalHoursHoursStudying GPAHoursWorking Income60 50 4.0 10 $6060 40 3.0 20 $12060 20 2.0 40 $24060 10 1.0 50 $30060 0 0.0 60 $360a. Define comparative advantage.b. Does either individual (the one in exercise 4 or the one in exercise 5) have a comparative advantage in both activities?c. Who should specialize in studying and who should specialize in working?
Plot the PPC of a nation given by the following data.Combination Health CareAll OtherGoodsA 0 100B 25 90C 50 70D 75 40E 100 0a. Calculate the marginal opportunity cost of each combination.b. What is the opportunity cost of combination C?c. Suppose a second nation has the following data.Plot the PPC, and then determine which nation has whether the two nations can gain from specialization and trade.Combination Health CareAll OtherGoodsA 0 50B 20 40C 40 25D 60 5E 65 0
This year 200 workers will lose their jobs, 170 workers will return to the labor force after an absence 1100 workers will voluntaryly leave their jobs, and 50 new workers will enter the labor force. At the same time 726 workers will find jobs, and ..
Using the following equation for the demand for a good or service, calculate the price elasticity of demand,cross price elasticity with good x, and income elasticityt. Q= 8 - 2p + 0.10I + Px, Where Q is quantity demanded, p is the price, I is inco..
Assuming no population growth or technological progress, find the steady-state capital stock per worker, output per worker, and consumption per worker as a function of the saving rate and the depreciation rate.What is the per-worker production fun..
Autie Frannie wants to help pay for her twin nephews to attend a private school. She intends to send a cheque for $2,000 at the end of each of the next eight years to apply to the cost of schooling. a) If general price inflation, as well as tuiti..
Luxembourg imports a good at a world price of $10 each. The domestic supply curve is S = 50 +5P where P is in Ecu and 1 Ecu = $1. Demand curve is D=400-10P. Draw demand and supply curves for this good and indicate how much it is imported
XYZ Corporation is a manufacturer of widgets. Over the past several months, it has been selling its widgets for $100 each and unit sales have averaged 5,000 units per month. This month its competitor, ABC, Inc. raised the price of its widgets from..
The demand function for an oligopolistic market is given by the equation: Q = 180 - 4P The industry consists of one dominant firm whose marginal cost function is: MCd = 12 + 0. Qd Qs= 20 + P A. Derive the demand equation for the dominant oligopolie..
Market supply of labor The following table shows the hours per week supplied to a particular market by three individuals at various wage rates. Calculate the total hours per week (QT) supplied to the market. Hourly Wage Hours per week
Using cash flow analysis determine the best currency option in which IBM should invest. Be sure to show your complete calculations of the annual return on each investment at the end of the three-year term.
Bruno's Lunch Counter is expanding and expects operating cash flows of $26,000 a year for 4 years as a result. This expansion requires $39,000 in new fixed assets. These assets will be worthless at the end of the project.
An engineering freshman wants to purchase a laptop computer for use during the 4 ½ years that she plans to study engineering at Texas Tech.Assume that maintenance and supplies will cost $100 each six months . Use an interest rate of 12% per year wi..
Suppose Jean Splicer, an investor, buys $100,000 of shares of stock in a diversified bundle of Bio-tech firms and exactly one year later sells those shares for $108,000. If the value of the CPI at the date of Jean's purchase was 160, and rose by t..
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