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- Goods and services which help in the production process are called: (a) Raw materials (b) Factors of production (c) Both raw materials and factors of production (d) Active inputs8:49 il LTE https://undergrad.unilus.app/pluginfile... O ... Combination 2 Combination 3 Country B Efficient Attainable Unattainable Inefficient Combination 1 K M N Combination 2 R Combination 3 T U (22 Marks) b) Which country has an absolute advantage in production of wine? Justify your answer with empirical evidence. (2 Marks) c) Which country has an absolute advantage in the production of clothes? Justify your answer with empirical evidence. (2 Marks) d) Which country has a comparative advantage in the production of wine? Justify your answer with empirical evidence. (4 Marks) e) Which country has a comparative advantage in the production of clothes? Justify your answer with empirical evidence. (4 Marks) f) If both countries specialize in the production of the item they are good at, draw the PPF for the condition where trade can take place. (6 Marks) (TOTAL: 40 MARKS)Use the table to answer questions 1. What is the oppourtonity cost of producing 800 tons of fruit instead of 450?
- (a) What do we mean by "returns to scale"? (b) In this context, list and explain the three different types of returns to scale that a firm could experience in production.The level of output at which average total costs equal áverage revenue or market price is: (a) The shut down output LTH€ breakeveni output O The marginal physical product (d) The marginal value productList out the major factors of production (input factors used) in a cement factory.
- Only after When neither country specializes, the total production of cornInstructions: Type written (font 12 New Roman). No handwritten or screenshot answers. Copying from someone or simply “copy and paste" from a source is a violation. 1. The Cost-Minimizing Equilibrium Condition implies that the marginal product per peso for MP. МP each of the inputs used is equal. i.e., Px (a). Use specific example to illustrate this equation. (b). If the ratio in # 1 is not equal, then the ratio of marginal product to price would be greater for one product than for others. What does this imply for a firm? Use example to illustrate. 2. In the following diagram, we plot typical information about marginal product and average product.Safari File Edit View History Bookmarks Window Help с COPPERBELT UNIVERSITY Knowing and Service Account Dashboard Courses DOD Calendar B Inbox eLibrary Untitled 3 ✓ A Prepara... 300 105 0 U C journals.sagepub.com C cbu.astrialms.com C с b 1) Application of Minimum Value Functions. Derive Suppose the following Cobb-Douglas production function y = kxlxh b 2. The Term Project II needs to be submitted in module 7. Specifications for Term Project II: This is the information for the term project in this course. This assignment will be due at the end of Module 7. Please consider the questions below and use the tools you acquired in this course to answer them. Show all the steps of your calculations. The term project should be no longer than 6 pages. X Derive the Cost Function. [Note the Cost Function is defined as C(w,y), where w is a vector of input prices and y is the output]. 2) Application of Consumer Theory. Derive and explain the Dual Problem of the Consumer Theory assuming that U (x,…
- erslerim > 2020-2021 Güz Dönemi > SIYASAL BILGİLER FAKULTESİ > IKTISAT > 2021G-ECON211-1228167 > Genel > Fina Site ana sayfası Takvim Nişanlar Tüm dersler Course dashboard The marginal product of labor in the production of computer chips is 25 chips per hour The marginal rate of technical substitution of hours of labor for hours of machine capital is 1/2. What is the marginal product of capital? Yanıt A SONRAKİ SAYFAHow does the National Bureau of Economic Research (NBER), set the recession, peak and trough dates in the U.S. and what data is used as input?Berger Paints sold the following volumes of white paint over the last four as shown (week 1-750 kg, week 2-825 kg, week 3-625 kg, week 4- 568 kg), Using the following weights accordingly 0.1, 0.2, 0.3, 0.4 project what week 5 projected volume. a. 465 b. 324 C. 655 d. 326