ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Suppose that Kayla and Josel trade only with each other, and agree to the following terms of
trade: 2 units of food in exchange for 3 units of luxury goods. What is Josel's value-maximizing
point of production?
A. 4 units of food and 6 units of luxury goods.
B. 8 units of food and O units of luxury goods.
C. O units of food and 12 units of luxury goods.
O D. 6 units of food and 4 units of luxury goods.
O E. None of the above.
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Suppose that Kayla and Josel trade only with each other, and agree to the following terms of
trade: 5 units of food in exchange for 3 units of luxury goods. Additionally, Kayla consumes as
many units of luxury goods as she can. What is Kayla's point of consumption?
O A. O units of food and 10 units of luxury goods.
O B. 8 units of food and O units of luxury goods.
O C. 5 units of food and 4 units of luxury goods.
O D. 4 units of food and 5 units of luxury goods.
O E. None of the above.
Save Answer
Suppose that Kayla and Josel trade only with each other, and agree to the following terms of
trade: 5 units of food in exchange for 3 units of luxury goods. Additionally, Kayla consumes as
many units of luxury goods as she can. What is Josel's point of consumption?
O A. 5 units of food and 7 units of luxury goods.
O B. 10 units of food and 4 units of luxury goods.
C. O units of food and 12 units of luxury goods.
D. 6 units of food and 4 units of luxury goods.
O E. None of the above.
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Transcribed Image Text:Suppose that Kayla and Josel trade only with each other, and agree to the following terms of trade: 2 units of food in exchange for 3 units of luxury goods. What is Josel's value-maximizing point of production? A. 4 units of food and 6 units of luxury goods. B. 8 units of food and O units of luxury goods. C. O units of food and 12 units of luxury goods. O D. 6 units of food and 4 units of luxury goods. O E. None of the above. Save Answer Suppose that Kayla and Josel trade only with each other, and agree to the following terms of trade: 5 units of food in exchange for 3 units of luxury goods. Additionally, Kayla consumes as many units of luxury goods as she can. What is Kayla's point of consumption? O A. O units of food and 10 units of luxury goods. O B. 8 units of food and O units of luxury goods. O C. 5 units of food and 4 units of luxury goods. O D. 4 units of food and 5 units of luxury goods. O E. None of the above. Save Answer Suppose that Kayla and Josel trade only with each other, and agree to the following terms of trade: 5 units of food in exchange for 3 units of luxury goods. Additionally, Kayla consumes as many units of luxury goods as she can. What is Josel's point of consumption? O A. 5 units of food and 7 units of luxury goods. O B. 10 units of food and 4 units of luxury goods. C. O units of food and 12 units of luxury goods. D. 6 units of food and 4 units of luxury goods. O E. None of the above.
Kayla and Josel produce food and luxury goods. Kayla has 10 hours; it takes her 1 hour to
produce 1 unit of food and 2 hours to produce 1 unit of luxury goods. Josel has 20 hours; for the
first 8 hours of producing food, it takes him 2 hours to produce 1 unit of food. Then, beyond 8
hours, Josel is less productive and it takes him 4 hours to produce 1 additional unit of food. It
takes Josel 2 hours to produce 1 unit of luxury goods no matter how many hours are allocated
into the production of luxury goods.
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Transcribed Image Text:Kayla and Josel produce food and luxury goods. Kayla has 10 hours; it takes her 1 hour to produce 1 unit of food and 2 hours to produce 1 unit of luxury goods. Josel has 20 hours; for the first 8 hours of producing food, it takes him 2 hours to produce 1 unit of food. Then, beyond 8 hours, Josel is less productive and it takes him 4 hours to produce 1 additional unit of food. It takes Josel 2 hours to produce 1 unit of luxury goods no matter how many hours are allocated into the production of luxury goods.
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