Answered: how to find the oppotunity cost if…

how to find the oppotunity cost if given the PPF equation => 9x^2 + y^2 = 81; which we must find the oppotunity cost in tems of y if we go fom 1 unit of x to 2 units of x

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: Explain Implicit and Explicit cost with the help of suitable example?

A: Firms undertake production by employing many resources. There are hiring costs of inputs like labor…

Q: please analyze interaction of marginal cost and average cost numerically and derive the formula of…

A: C = 9720 + 500q - 1.5q2 + 0.005q3 Average cost (AC) = C/q = (9720 / q) + 500 - 1.5q + 0.005q2…

Q: MyCollege Clothing Company manufactures expensive sweatshirts to sell to college bookstores in…

A: In this question:- The cost function=TC=c(x)=4000+0.25x2 Revenue function=TR=p×x=rx=150-0.5xx

Q: the cost of an imported high-speed assembly-line robot is $80,000 and the in-country cost for one…

A: The cost estimating relations uses to predicting the cost with the help of design variables. The…

Q: Q4.Suppose we are given the constant returns to scale (CES) production function q={ßa+aa }1/a a.…

A: The production function determines all the input bundles that produce the same output level.The…

Q: Identify each of Shen's costs in the following table as either an implicit cost or an explicit cost…

A: Implicit costs are the opportunity costs of using resources that a firm already owns. These costs…

Q: Quantity Total Cost 0 20 2 15. 3 T 5 Which bescribes our situation when quantity = 1? OEconomies of…

A: Economies of scale is when the increase in output decreases the long run average cost.Diseconomies…

Q: If you have the data of Total cost (TC)= 15, 25, 30, 40, 55, 75, 100 against units of output (Q) =…

A: Marginal cost is the cost which incurred by producer when they produce one or more additional unit .…

Q: For the cost function C(Q) = 100+2Q +3Q², the total variable cost of producing 2 units of output is…

A: Costs refers to the expenses that is incur in the process of production of goods or services. There…

Q: Answer all parts (a)-(g) of this question.Mette has started Mersea Oysters. She aims to export…

A: The objective of the question is to understand the concept of marginal cost, profit maximization,…

Q: In recent years, the United States has experienced large increases in oil production due in large…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: > The production function for gadgets is: Q = Q(L, G) = L½ + G½ ne price of L is w = $2. The price…

A: A production function has Diminishing returns to scale when change the inputs changes the output by…

Q: During the night, the electricity sector has a marginal cost of $1/MWh (megawatt-hour) for the first…

A: During the night: the electricity sector has a marginal cost of $1/MWh (megawatt-hour) for the first…

Q: Farmer Joe’s production function is f(x1, x2) = x 1/3 1 x 1/3 2 , where x1 is the number of pounds…

A: Given; Farmer Joe’s production function; f(x1, x2) = x11/3x21/3 where; x1 is the number of pounds of…

Q: An explicit cost is defined as a cost that involves spending money. a cost that does not change as…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Azree an accountant, working for a foreign consultant firm and earning RM 78,000 per year is…

A: Explicit costs are the costs for a firm which it is paying out of its pocket, for example, payments…

Q: When x thousand dollars are spent on labor and y thousand dollars on equipment, the output of a…

A: Given; Q(x,y)=240x3/8y5/8 and; x+y=200y=200-x .......equation a

Q: n the aftermath of a hurricane, an entrepreneur took a one-month leave of absence (without pay)…

A: "Since you have asked multiple parts, we will solve only the first part for you. If you have any…

Q: An electronic-parts manufacturer with U-shaped short-run cost curves is producing 10.000 units per…

A: The cost function represents the relationship between cost and output. It shows the production…

Q: ExxonMobil runs two oil refinery plants, one in Indonesia and the other in Malaysia. The total cost…

A: Answered belowIndonesia=1, Malaysia=4. -40.Explanation:Step 1:To find the optimal production levels…

Q: Ain a community of 10000 people, each is willing to pay Ksh 10 for each well dug. The cost of…

A: Pareto efficiency, a concept in economics, occurs when a situation is optimized so that no…

Q: What is the difference between economies of scale andeconomies of scope? How do firms consider these…

A: The concepts of economies of scope and economies of scale explains the situations when the big firms…

Q: Select all statements that are true using the attached chart. A.)Breakeven is the quantity where TR…

Q: A tire manufacturer produces a piece of tire at a labor cost of 0.50 pesos and material at 3.00…

A: Let's assume Q units are produced. Labor cost is 0.50 pesos per piece Material cost is 3 pesos per…

Q: Answer all parts (a)-(g) of this question.Mette has started Mersea Oysters. She aims to export…

Q: Which of the following statements related to cost estimation methods is true? O a. The three methods…

A: a)The aim of the cost estimation methods is to estimate fixed and variable cost. So, this option is…

Q: Determine the values of K and L which minimise the cost function C = 3K+ 5L subject tan to the…

A: Given information: Minimize C=3K + 5L Subject to production constraint 250 = 10K0.5L0.5.

Q: schylar Pharmaceuticals, Inc., plans to sel 130,000 units of antibiotic at an average price of $22…

A: Here, we calculate the given as follow;

Q: If TC=42+ 20Q+4Q2, what is the marginal cost at when Q=10? Enter as a value.

A: The marginal cost in economics is the variation in total production costs that results from creating…

Q: Let a firm’s production function be f(K,L) = √2K1/2L1/2. a) Solve for the contingent demand…

A: A production function is an economic concept that describes the relationship between inputs (factors…

Q: A factory manager is planning for the manufacture of plywood to be sold overseas. The fixed cost of…

A: Total Revenue = P *Q Total revenue is maximum when dTR/dQ = 0 Profits = Total Revenue - Total Cost…

Q: Out of 10000 people in a community, each is willing to pay Ksh 10 for each well dug. The cost of…

A: Pareto efficiency, a concept in economics, occurs when a situation is optimized so that no…

Q: Aesd ts emoveag There can be at least one input for production which can be considered as fixed in…

A: Short run refers to the period of time in which certain factors of production are fixed while others…

Q: 3] Let the total cost function be C(x) =x² + 4x + 12 $. Answer the following questions. a. Find the…

A: TC = 1/9x2 +4x+12

Q: . Apple uses labour and machines to produce iPhones according to the production f y = L&M, where L…

A: We have the following two equations:y = L1/4M1/4 -----------> eq(1)and L =4M ------------->…

Q: how much were implicit costs

A: Profits refers to the income earned by the firm after accounting for all the expenses. These…

Q: Total Variable cost is 560,000 OMR total units sold is 7000 units, total fixed cost is 160000…

A: Total cost (TC): - it is the sum of fixed and variable costs incurred in the production process.…

Question

how to find the oppotunity cost if given the PPF equation => 9x^2 + y^2 = 81; which we must find the oppotunity cost in tems of y if we go fom 1 unit of x to 2 units of x

Definition Definition Curve that represents the various combinations of production possibilities of two commodities when resources or factors of production are given.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

Step 2

Step 3

Step 4

Trending now

This is a popular solution!

Step by step

Solved in 4 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Can you assist me with this question17 by showing me the process step by step so, I can use this to compare with my notes. I attempted this question numerous times however, Im still having trouble understanding. Thank you.
.A company can sell its only product and in a perfectly competitive market at a price of 15. To produce it, it must purchase two production inputs: labor (x1) and machinery (x2). Initially, the company only has 1 machine and it is not possible to change this in the short term. Inputs are purchased in competitive markets with respective prices (w1, w2) = (5,10). The production function is as follows: 3 2/3 1/3 f(x,x2) a) Present the problem of maximization of the company. b) Find the first order condition that must be solved to find the optimal level of supplies. c) Find the optimal input level x1 that the company must contract in the above problem to maximize your profits.
AT the profit maximizing level of input use, which of the follow ng are true a. MVP =0 O MVP = MIC C. MPP = MVP d MVP-MVIC
Graph the average total cost curve by first using the point tool to plot points for the average total cost for Q-1, Q-5, and Q-14 and then using the curved-line tool to connect them. You may assume that all total costs for these quantities are multiples of $25. Use the formula ATC=for your calculations. To refer to the graphing tutorial for this question type, please click here P arh NO m 956 *** PAY TH ww 178 9 Q ** See Hint waka
True or False The average total cost cannot equal marginal cost.
Provethatthetechnologyf(L,K)=L2+K2 exhibitsincreasingreturnstoscale. What is the formula for the average product of capital? For the total cost curve TC(q) = q3, prove the technology exhibits decreasing returns to scale
Yummy Gummies, Inc. makes boxes of individually packaged gummies. The company has a cost function given by C(x) dollars when x boxes of Yummy Gummies are made. If C '(100) = $3.50 per box, which of the following can we conclude from this information? %3D O The approximate cost of making the 100" box of Yummy Gummies is $3.50. O The exact cost of making the 99h box of Yummy Gummies is $3.50. The approximate cost of making the 101“ box of Yummy Gummies is $3.50. O The approximate cost of making the 99 box of Yummy Gummies is $3.50. O The exact cost of making the 101st box of Yummy Gummies is $3.50.
Don't give inappro
Show the solution step by step
Answer all questions otherwise skip.
If the total cost is c = 0.2Q3 – 4Q² + 1000, what is the marginal cost when Q = 10? A. 800 В. 20 C. – 20 D. 500
a company has 100 batches of products and requires to finish the inspection in one month, assuming that p-0.01, n3D120, and c=6, calculate the number of ppl required to finish this job if inspection of each item takes 12 mins. every person works 10 hr/day and 5 days/week Select one: a. 128 b. I'do no know how to solve this problem. C. 200 d. 139 e. None