Sam can brew 5 gallons of root beer in an hour or he can make 4 pizzas in an hour. Ben can brew 7 gallons of root beer in an hour or he can make 5 pizzas in an hour.  Sam's opportunity cost of making a pizza is  gallons of root beer.  Ben's opportunity cost of making a pizza is  gallons of root beer.

Q: Dave's opportunity cost of producing 1 pound of green beans is ______ pound(s) of corn.…

A: Total possible production of each good is Product  Green Beans = 80 Corn = 160

Q: 3. Jennifer and Dave need to figure out how to divide the chores between. Dave can wash 6 loads of…

A: An international market depends on the product specialization of the nations involved. Product…

Q: Mike and Sandy are two woodworkers who both make tables and chairs. In 1 month, Mike can make 4…

A: PPF is the production possibility frontier. PPF shows the production possibility of two goods in an…

Q: Refer to Figure 3-3. Tanek’s opportunity cost of one burrito is   a.  3/4 taco and Barb’s…

A: Opportunity cost indicates the forgone benefits from the next best alternative.

Q: A production possibilities curve shows the variouscombinations of two outputs thata. consumers would…

A: Resources are anything that are employed or utilized by business companies in the production of…

Q: . It is primarily the basis of economic activity a. economics b. scarcity c. social science d.…

A: Economics is the study of human decisions in the face of scarcity.

Q: In economics, cost is and benefit is a. the amount of money that you pay for something; the amount…

A: Economists are eager in finding out how the resources are allocated or how optimization of resources…

Q: Opportunity Cost Rina and Yvette are roommates. They spend most of their time studying (of course),…

A: Answer: Given,   Root beer (in hours) Pizza (in hours) Rina 4 2 Yvette 6 4 Let us find the…

Q: Maisa decided to spend money on a book instead of going for a movie. She understood that if she…

A: Before we discuss the solution to the above problem, let us first understand the concept of…

Q: If producing 200 buttons and 200 safety pins daily is a 50% split of resources, where do we see the…

A: Opportunity cost: It is the measurement of the sacrifice.  Opportunity costs exist in the economy…

Q: 2. Calculate the marginal benefit from each slushie and answer Yes or No whether Cassian should…

A: When MB > MC , Purchase the Good. When MB = MC , Indifferent between Purchasing and Not…

Q: Latasha can read 30 pages of economics in an hour. She can also read 20 pages of sociology in an…

A: Opportunity cost is the cost of next best alternative that is available. Given- Latasha can read 30…

Q: Economics Joe has morning commute budget of $36. He spends these money on buying gasoline for the…

A: Inflation occurs when the price level of all goods and services in the economy experiences a…

Q: a. Draw and explain a production possibilities frontier for an economy that produces cheese and…

A: Production possibility frontier (PPF) shows that with the combination of two factors of production,…

Q: 3. Economic problems arise because

A: To find : Which is cause of arising economic problem.

Q: 4. Opportunity cost and production possibilities Tim is a talented artist who sells hand-crafted…

A:

Q: Draw and explain a production possibilities frontier for an economy that produces cheese and milk.…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: mat shows Dimies Good X and Good Y. Type of Goods Production Possibilities A B D. E 2 4. 6 8 Y 30 27…

A: Since, you have asked multiple questions with multiple parts, we will be answering the first three…

Q: Paul's PPF Sue's PPF Cheese Cheese 100 60 40 32 36 60 Ham 42 90 Ham According to the graph above,…

A: Opportunity cost is the benefit that might have been gained if a different available alternative had…

Q: A baker can produce two products: cupcakes and pies. The table below is the baker's production…

A: The value of alternative opportunities foregone and sacrificed to acquire one unit of a commodity is…

Q: Which of these scenarios is inefficient and why?

A: In scenarios 1 and 2,either no lawn is mowed or no car is washed. Therefore in these 2…

Q: Mowgli and Baloo like to catch fish and pick bananas. Some information about their productive…

A: Opportunity cost is the cost you sacrifice in order to get one additional unit  for another goods .

Q: Burritos 500 450 400 350 300 250 200 150 100 50 Adam's Production Possibilities Frontier Burritos…

A: In this case, we have to discuss about the production possibilities frontiers. Production…

Q: 1. Discuss the idea of an opportunity cost and think of three opportunity costs that you have made…

A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…

Q: Sam has two options this weekend. He could work at his job and earn $9/ hour for three hours, or he…

A: Next best alternative cost is the opportunity cost. If Sam is going to theatre, he would spend $30…

Q: Emmanuel likes gardening. He grows zucchini that he sells at the local farmers' market. The table…

A: Marginal benefit can be calculated the subtraction of TBn-1 from TBn. marginal benefit for 2nd hour…

Q: What are the three common pitfalls that people make when they do "cost-benefit" analysis. Explain…

A: Cost-benefit analysis and Opportunity cost: Cost-benefit analysis portrays the systematic comparison…

Q: 3. Opportunity Cost Becky and Eileen are roommates. They spend most of their time studying (of…

A: Opportunity cost is the value of the alternative given up in order to choose the chosen one.…

Q: A production possibilities frontier is a straight line when Select one: a.the more resources the…

A: Production possibility frontier (PPF) depicts the varying levels of two goods that a society can…

Q: Cassian is attending a football game at the University of Georgia It's a hot and sunny day and he is…

A: Answer: Given, Cost of slushie = $4 (1). Marginal cost: it refers to the additional cost of buying…

Q: Tony and Patty produce skis and snowboards. The tables show their production possibilities. Each…

A: To calculate the opportunity cost for Tony and Patty, we need to look at their production…

Q: Quantity Total Benefit 0 20 60 300 500 Total Cost 20 Marginal Benefit 5 Marginal Cost

A: The basic concept that will be used to fill missing values in the given table Marginal benefit is…

Q: K Tory and Patty produce skis and snowboards. The tables show their production possibilities. Each…

A: The objective of this question is to determine the gains from trade when Tony and Patty specialize…

Q: H. What G. What is the opportunity cost of the first eleven bottles of water produced? is the…

A:

Q: Viktor is a lawyer who loves filing legal briefs and motions. His goal is to get as many legal…

A: According to the economics term, Opportunity cost refers to the value of what you have to give up in…

Q: (a) At point F, how many sweaters are being produced? How many hard drives? (b) Label points A-H as…

A: A PPF (production possibility frontier) shows the different combinations of two goods that a nation…

Q: Okay, so if I want one more bottle of water, what does this cost me in terms of fish? The…

A: A Production Possibility Frontier is a graph that shows all the possible combinations of two…

Q: The basic economic argument is that humans face the big problem of __________. That big problem…

A: Scarcity refers to the problem of limited resources available to the economy to produce goods and…

Q: A small bakery makes baguettes and muffins. With the resources available (workers, flour, machines)…

A: A small bakery makes baguettes and muffins. With the available given resources, this bakery can…