A small bakery makes baguettes and muffins. With the resources available (workers, flour, machines) this bakery can produce either 1500 baguettes or 2000 muffins per day. a. What is the opportunity cost of an extra muffin in terms of baguettes? b. Assume that production is currently 1200 muffins and 600 baguettes. If the bakery wanted to expand its muffin production to 1300 muffins per day, how many baguettes would be baked?

08. What are the relative prices (opportunity costs) of wine and cloth?     a) wine costs 1/2 yard of cloth per bottle in England     b) cloth costs 1/2 bottle of wine/yard in England     c) cloth costs 4 man-hours/yard in Portugal     d) cloth costs 2 bottles of wine/yard in Portugal     e) wine costs 3 bottles of wine/yard in Portugal

Economic theory indicates that as any economic agent tries to extend any productive activity further, it becomes increasing more difficult to do so. What is this particular theory called? Select one: a. Law of Comparative Advantage b. Law of Demand c. Law of Ceteris Paribus d. Law of Diminishing Returns

a. Compute the opportunity cost in forgone consumer goods (millions of pounds of butter) for each additional unit of military output produced (number of planes) using the table below: Instructions: Enter your responses as a whole number. Military output Consumer goods output Opportunity cost 0 100 1 95 2 80 b. As military output increases, opportunity cos 3 60 4 35 (Click to select) decrease remain constant increase 5 0

Which is a good example of an opportunity cost? 1. “To begin, I began selling prints of my pictures in 2019 throughout 2020. It's now closed. USPS and UPS were the options I had during this period to ship out orders. UPS was expensive at the moment for smaller or lightweight packages whereas USPS offered a cheap price for these types of packages. UPS ships more than 220 internationally while USPS ships to certain international destinations. I have chosen USPS over UPS, orders were delivered on time and without damage by the United States Postal Service. The opportunity cost is the cost of UPS shipping. “ 2. “To begin, I began selling prints of my pictures in 2019 throughout 2020. USPS and UPS were the options I had during this period to ship out orders. I chose to ship my orders via UPS rather than USPS since it had the choice to ship orders internationally. While USPS is cheap and has fast shipping. Shipping the orders with UPS did not ship orders out on time, orders were damaged, and…

Suppose that you own a house. What is the opportunity cost of living in the house? O The opportunity cost is the cost of your monthly mortgage payment plus bills. O The opportunity cost is the rent you could have received from a tenant if you didn't live there. O There is no opportunity cost unless you could set up a business in the house. O There is no opportunity cost because you own the house.

PLEASE FILL IN THE CHART BELOW FOR THE ARTICLE!! Microeconomics For the article, write the number of the graph that best describes what happened. Fill in only the appropriate boxes in each chart for each article and be sure and indicate if it is an increase or a decrease.   Recent flooding in Australia, have driven up prices for items ranging from coffee beans to beef. Prices of corn and soybeans, used as feed for cattle and chicken, have leapt over the past six months, pushing up meat prices. As a result, meat prices have also increased. Restaurant chain Johnny Rockets, known for its burgers, uses about eight million pounds of ground beef a year, and its prices have risen over the last two months, says Ray Masters, senior vice president of purchasing and distribution. Fill in the Answer sheet for the article. Make sure you fill in the graph by marking it as a decrease or an increase in each box. Leave it blank if there is no change.  Use a ?  If you can’t tell if there is a decrease…

PLEASE FILL IN THE CHART BELOW FOR THE ARTICLE!! Microeconomics For the article, write the number of the graph that best describes what happened. Fill in only the appropriate boxes in each chart for each article and be sure and indicate if it is an increase or a decrease.   Recent flooding in Australia, have driven up prices for items ranging from coffee beans to beef. Prices of corn and soybeans, used as feed for cattle and chicken, have leapt over the past six months, pushing up meat prices. As a result, meat prices have also increased. Restaurant chain Johnny Rockets, known for its burgers, uses about eight million pounds of ground beef a year, and its prices have risen over the last two months, says Ray Masters, senior vice president of purchasing and distribution. Fill in the Answer sheet for the article. Make sure you fill in the graph using a ⬆  Leave it blank if there is no change.  Use a ?  If you can’t tell if there is a decrease or an increase. Use the graphs attached…

Consider a market for Lemonade. Please use the accompanying graph to answer following questions. P is the price of Lemonade and Q is the quantity of Lemonade.         Please answer step by step follow question.Answer must be correct. Don,t copy from anywhere. Write proper answer. Answer follow image.Do all calculation step by step.

Bill and Melinda work for a firm that creates web pages and apps.  The number of web page designs and apps each can produce in a week is given in the table below.                                                                       Output per Week   web pages designed apps created Bill 3 12 Melinda 2 4   Melinda’s opportunity cost of designing one web page is: Group of answer choices designing 2 apps designing 3 apps designing 4 apps designing 5 apps