The Per Unit opportunity cost of moving from a to b is bike. The Per Unit opportunity cost of moving from b to c isbikes. The Per Unit opportunity cost of moving from c to d is bikes. The Per Unit opportunity cost of moving from d to e is bikes. Bicycles A 14 B 12 10 864 2 E 0 2 4 6 8 10 Computers Costs 16
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- Com 120.000 80.000 40.000 Robots 5.000 10.000 15.000 In the graph above, the opportunity cost of producing one more robot is A 1 corn. 8 corn. 5,000 corn. 15,000 corn.What does a production possibilities frontier illustrate?1. Ramon and Sammy are working on a group homework assignment. The homework consists of a set of essay questions and a set of questions on graphing models. Ramon can finish an essay question in about 15 minutes and a graphing question in about 30 minutes. Sammy can finish an essay question in about 20 minutes and a graphing question in about 35 minutes. Assume that Ramon and Sammy produce the same quality answers. Calculate Ramon and Sammy's opportunity cost of each task. Please round each answer to the nearest tenth. a. Ramon’s opportunity cost of completing an essay question:____ graphing questions b. Ramon’s opportunity cost of completing a graphing question:_____essay questions c. Sammy’s opportunity cost of completing an essay question:___ graphing questions d. Sammy’s opportunity cost of completing a graphing question:___essay questions 2. If the two want to specialize in working on their homework, who should do the essay questions and who should do the…
- QUESTION 7 Olivia and Susan operate a store that sells burritos. There are two main activities: chopping up the ingredients and then cooking the fillings for the burritos. Olivia and Susan are deciding who should chop the ingredients and who should cook the fillings in order to maximise output. Olivia Susan Chopped Food (kg/hr) 15 20 Cooked Food (kg/hr) 20 30 Which of the following statements are true: For Olivia, the opportunity cost of 1kg of cooked food is 1.33kgs (to 2 decimal places) of choppectood. For Susan, the opportunity cost of 1kg of cooked food is 0.67kgs (to 2 decimal places) of chopped food. Susan should specialise in chopping. Olivia has an absolute advantage in chopping.Economics QuestionHomework (Ch 02) 100 Tools 80 PPE 60 70, 41 20 20 40 60 80 100 ALFALFA (Millions of bushels) Complete the following table by indicating whether each point represents output combinations that are inefficient, efficient, or unattainable. Check all that apply. Point Inefficient Efficient Unattainable C E F OO0 O00 +u LAPTOPS (MIllions)
- Meat (pounds) 120 A 90 В 60 30 Vegetables (pounds) 20 60 80 100 120 140 160 The opportunity cost of meat when moving from C to B is: 1/3 of a lb of vegetables per Ib of meat 60 Ibs of meat per lb of vegetables 3 Ibs of vegetables per Ib of meat 20 Ibs of vegetables per lb of meat 40product Y 28 24 20 16 12 8 4 0 Production Possibilities Frontier + point A 8 point F 12 16 point B point C 20 -point E point D 24 product X 01. What is the per-unit opportunity cost of product X as production moves from point B to point D? a) 6/7 b) -6/7 c) 7/6 d) -7/6QUESTION 9 Oliver is writing CML assessment questions for two introductory economics courses at UQ (ECON1010 and ECON1020), and currently finds himself with a 4-hour period in which he can complete either task. Oliver's production possibilities curve for the next 4 hours is shown below. 16 ECON1010 (questions) 12 8 0 1 1 12 1 1 1 24 36 48 ECON1020 (questions) What is Oliver's opportunity cost of writing (producing) a single ECON1020 question? Answer to the nearest two decimal places. [a] ECON1010 questions.
- how does transportation address the economic problem of scarcityIn Figure 1.1, which of the following points would the opportunity cost of producing one more SUV be highest? Figure 1.1 Cupeto SVs a) A b) B c) C d) F Cipat of CanIdentify the elements of scarcity, choice, and opportunity cost in each of the following: 1. The manager of an automobile assembly plant is considering whether to produce cars or sport utility vehicles (SUVs) next month. Assume that the quantities of labor and other materials required would be the same for either type of production. 2. A young man who went to work as a nurses’ aide after graduating from high school leaves his job to go to college, where he will obtain training as a registered nurse.