Who has a comparative advantage in producing balls

Assignment Help Microeconomics
Reference no: EM13207409

Tom can produce 40 balls per hour or 4 bats per hour. Tessa can produce 80 balls per hour or 4 bats per hour.
a. calculate Tom's opportunity cost of producing a ball.
b. calculate Tessa's opportunity cost of producing a ball.
c. who has a comparative advantage in producing balls?

Reference no: EM13207409

Questions Cloud

What is jasons real income in terms of spy novel : Jason enjoys DVDs and spy novels and spends $60 a month on them. The price of a DVD is $20 and the price of a spy novel is $10. a. What is Jason's real income in terms of spy novel b. What is the relative price of a DVD
Explain the melting point of tropylium bromide : The melting point of tropylium bromide is above 200 degree C, quite high for an organic compound. How can you account for these experimental observations?
Will opportunity cost of producing ethanol in us increase : Ethanol can be produced from either sugar or corn. A gallon of ethanol cost 90¢ to produce from Brazilian sugarcane and $1 to produce from U.S.corn. The U.S. Department of Agriculture expects 20 percent of the corn harvest to be used to produce et..
Compute the molar volume of ar : Calculate the molar volume of Ar at 500K and 60 atm according to (i) the ideal gas equation; (ii) the van der Waals equation, given a = 3.640 L2 atm mol-2 and b= 0.004267 L mol-1
Who has a comparative advantage in producing balls : Tom can produce 40 balls per hour or 4 bats per hour. Tessa can produce 80 balls per hour or 4 bats per hour.a. calculate Tom's opportunity cost of producing a ball. b. calculate Tessa's opportunity cost of producing a ball.
Explain a fertilizer manufacturing plant that produces : A fertilizer manufacturing plant that produces 1,500 tons per day of fertilizer is known to emit particulate matter (PM) at a rate of 22 grams per ton of fertilizer produced.
What was the opportunity cost of your evening at the movies : The night before an economic exam, you decide to go to the movies instead of staying home and working your MyEconLab study plan. You get 50 percent on your exam compared with the 70 percent that you normally  score. a. Did you face a tradeoff
Determine entropy change of the universe : the heat of fusion of ice at this temperature is 5610 J/mol. Find entropy change of the universe when 3mol of water freezes at -10degreesC
What are the advantages and disadvantages to each firm : Describe various revenue models available as video content shifts from atoms to bits. What are the advantages and disadvantages to each - for consumers, for studios, for middlemen like television networks and Netflix

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

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