Refer to Table 6. At what quantity does John's Vineyard maximize profits? Select one: O a. 6 O b. 7 O c. 3 O d. 8

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7. Which of the above figures represents economic growth caused by an improvement in the technology of producing product of both X and Y?     a) FIG A     b) FIG B     c) FIG C     d) FIG D

The production possibility curve shows all the following except O a. Economic growth O b. The law of demand O c. The supply curve of 2 goods O d. The law of increasing opportunity cost O e. Inefficiency in production

Please choose the correct answer?

If John didn't go to the movie tonight with a friend, he would save the $5 parking fee and spend four hours at working overtime at $15 per hour. The opportunity cost of spending the evening at the movies with his friend is: O A. $0 OB. $5 C. $60 O D. $65

QUESTION 1 Assume the following: • Price 10 • Quantity = 20 What does Total Revenue equal? O a. 10 O b. 30 C. 200 O d. 2

2. Using the information below, graph the production possibilities curve for Cal Poly jam and Cal Poly BBQ sauce on the graph below. Then, determine the maximum revenue producing combination using the methods discussed in class. Please show this point on the graph, draw an isorevenue line through it (label it point A), and calculate the total revenue produced from this combination. Cases of Cal Poly Jam (Y2) 135 128 119 108 95 80 63 44 23 0 Price of Cal Poly Jam (Py2) = $90.00/case Price of BBQ Sauce (Py=$135.00/case a. Total Revenue at Revenue-Max Combination 140 120 100 80 60 40 20 0 20 Cases BBQ Sauce (YT) 0 10 20 30 40 50 60 70 80 90 40 60 80 100 MRPS NIPR b. What would happen to the output combination if the price of a case of BBQ Sauce increased to $171.00? Draw a new isorovenuo line through this point and label it B. c. Calculate the new total revenue for the food processing plant at the new combination.

Refer to the figure at right. If the farmer has 50 acres of​ land, the farmer is producing at point​ a, and an acre of land yields 400 bushels of beans or 800 bushels of​ wheat, how much land is devoted to the production of​ wheat? Part 2 A. 15 acres B. 12.5 acres C. 8.5 acres D. 10 acres

Remote Control Cars 180 120 60 Remote Control Planes 50 80 100 Figure B-4 shows the production possibilities frontier for a processing plant that can produce both remote-control cars and remote-control airplanes. The opportunity cost of moving from point B to C (in terms of a 1-unit increase) is O a. 20 remote control planes O b.3 remote control cars Oc1 remote control plane O d.33 remote control cars