Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Joseph is granted $50 a week to spend: either on energy drinks at $2.50 each or on gasoline for his car at $4.00 per gallon.
a) Draw Joseph's opportunity set. Label his feasible set. (Put gasoline on horizontal axis.)
(Draw a sufficiently large diagram as you will add more items to the same graph in subsequent parts.)
b) In part a), what is the trade-off (opportunity cost) of energy drinks in terms of gasoline?
c) In the graph for part a) above, now draw each new budget constraint he would face if:
i) The price of energy drinks fell to $2
ii) The price of gasoline rose to $4.50 per gallon
d) In each case in part c), how does the trade-off (opportunity cost) of energy drinks in terms of gasoline change.
part 1 truefalse questions. explain your answer fully.1. the risk treatment in the bene.t-cost analysis assumes risk
Explain would your answer differ if you and your rival were required to resubmit price quotes year after year and if, in any given year, there was a 50 percent chance that Toyota would discontinue the Highlander.
The economy is made up of C and I and is currently at full employment. If consumption is $5 trillion while savings is $1 trillion, what is current investment according to the Classical economists? Suppose consumption falls by $500 billion what will h..
Consider a closed economy which can be characterized by the following equations: C = 400 + 0.8YD I = 600 + 0.1y- 1000r G = 300 T = 125 (M/P)d = 0.2Y-6000r (M/P)= 400 c. Determine the equilibrium values for real GDP (Y), the real interest rate (r), pr..
Describe the organizational structure of your selected organization. Evaluate and difference that structure with two different organizational structures.
An irrigation return flow drain has sampling equipment that can be powered by solar cells or by running an electric line to the site and using conventional power. Solar cells will cost $14,000 to install and will have a useful life of 10 years.
Many industrialized countries such as the United States attempt to seriously restrict immigration of production workers, but are more open to immigrants who are highly-skilled. Why might this be the case? Why is this a problem for developing countrie..
England and Scotland both produce scones and sweaters. Suppose that an English worker can produce 80 scones per hour or 1 sweater per hour. Suppose that a Scottish worker can produce 20 scones per hour or 2 sweaters per hour. Give an example of a tra..
Why is this statement wrong: "Economists argue that lower prices will result in fewer units being supplied. However, there are exceptions to this rule. For example, in 1972, a very simple 10-digit electronic calculator sold for $120. Lower prices di..
What has been the economic effect of marijuana legalization in Nevada, California and all the states that have legalized both medical and recreation marijuana? What similarities or dissimilarities are there, when you compare marijuana legalization wi..
For all problems consider a market containing four identical firms, each of which makes an identical product. The inverse demand for this product is P = 100?Q, where P is price and Q is aggregate output. The production costs for firms 1, 2, and 3 are..
politicians are often heard saying that tuition at state universities should be kept low to make education equally
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd