A manager asks an employee, "Should we distribute tickets to the concert on a first-come-first-served basis or through a lottery?" The manager's question is best classified as which one of the following fundamental economic questions? For whom to produce. How to produce What to produce Why to produce

Use the information in the table to answer the below question.                       Production Possibilities Frontier         Number of hours worked   Total benefit   Total cost       0        0     0 10    300 100 20    550 210 30    750 340 40    900 500 50 1,000 700   Christian delivers pizza using his own car and is paid according to numbers of boxes that he delivers. Use marginal analysis to determine the optimal number of hours that he should work.

Complete the following sentence. Marginal cost Select one: A. remains constant. B. is the opportunity cost of producing one more unit of a good or service. C. is unrelated to the production possibilities frontier. D. is always greater then marginal benefit. E. always equals marginal benefit.

A dairy farmer decides to use automatic milking machines instead of milking by hand. Which economic question is answered by his decision? Select one: ○ a. How to produce? b. For whom to produce? ○ c. Should milk be produced? ○ d. What to produce?

Ray bought two WVU football tickets for $100 each. However, he has won a free vacation and won’t be able to attend the game. A ticket scalper offers him $40 for each ticket before he leaves town. Calculate the opportunity cost. $0 $80 $200 $100 $120

The resources used to make all goods and services are the * production possibilities. production trade-offs. opportunity costs. factors of production. What is a factory building an example of? *

You have exactly $50 to spend on some music. For the albums you are considering, the followin table lists the value to you, in dollars, as well as the price you must pay to acquire it. Album Price Sign of the Times (Prince) $25 Blood on the Tracks (Bob Dylan) $25 What's Going On (Marvin Gaye) $25 Nevermind (Nirvana) $25 Value $60 $67 $98 $85 What is the cost, in dollars, of paying $50 for an autographed copy of BTS' album Map of the So 7? Round your answer to two decimal places and do not enter the currency sign. If you answer is -$1.275, enter 1.28.

Everything is made up of the four factors of production.  Look at the shirt you have on right now.  List the four factors of production and give a specific example of each which might have been used in the production of your shirt.  You have to be specific with each factor. You cannot say "resources" or "land".

Soybean (bushels per year) Chicken (Pounds per year) 500 0 400 300 200 500 0 600 9.) If the farm uses its resources efficiently, what is the opportunity cost of an increase in chicken production from 300 pounds to 500 pounds a year? Explain your answer.

What is opportunity cost? Opportunity cost refers to costs that cannot be avoided, regardless of what is done in the future, because they have already been incurred. b. a. Opportunity cost is the value of what we give up by not making the alternative cholce. Opportunity cost is a business concept that explains why it is important to consider the additional cost of production, not just the initial cost, in making production decisions. Opportunity cost is a cost associated with the allocation of abundant resources arnong alternative uses. Opportunity cost is a monetary measure of cost that takes into C. d. е. account only explicit costs, or costs that can be counted. + vi 6:58 9