The table below represents the combinations of beef and corn produced on a tract of land of a given size and fertility Corn (bushels) Beef (kg) 10000 8000 900 6000 1200 4000 1400 2000 1475 1500 Which of the following combination represents unattainable production levels with the current tract of land? Select one: O a. 8000 bushels of corn and 500 kg of beef O b. 200 bushels of corn and 1475 kg of beef O c. Both 8000 bushels of corn and 1200 kg of beef and 6000 bushels of corn and 1300 kg of beef O d. 8000 bushels of corn and 1200 kg of beef O e. 6000 bushels of corn and 1300 kg of beef

The table below represents the combinations of beef and corn produced on a tract of land of a given size and fertility Corn (bushels) Beef (kg) 10000 8000 900 6000 1200 4000 1400 2000 1475 1500 Which of the following combination represents unattainable production levels with the current tract of land? Select one: O a. 8000 bushels of corn and 500 kg of beef O b. 200 bushels of corn and 1475 kg of beef O c. Both 8000 bushels of corn and 1200 kg of beef and 6000 bushels of corn and 1300 kg of beef O d. 8000 bushels of corn and 1200 kg of beef O e. 6000 bushels of corn and 1300 kg of beef

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

An anicle on forbes.com discussed a business decision by Mant OHayer, owner of Vital Farms. OHayer was one of the first poultry farmers to begin selling pasture-raised eggr. He commited to raising his chickens with each having 108 teet of oundoor space. According to the article, "It was one of many decisions he made knowing it would likely limit his company's growth." Source: Chloe Sorvino, "How Whole Foods Favorite Vital Farms Made Pasture-Raised Eggs Mainstream," torbes.com, May 31, 2018. a. in what sense did OHayer's decision to take on these additional costs of raising chickens imit his company's growth? OA Chickens raised in larger cages move around more and will therefore eat less chicken teed that those raised in smaler cages OB. Chickens rased in larger cages are less kely to be injured or kled by being pecked by other chickens OC Raising chickens in larger cages reduces the rumber of chickens he can raise on a given amount of land D. Al of the above
Monique has a flock of six chickens in her backyard that she initially bought for $6 each. Theflock currently lays 20 eggs per week, which Monique and her family consume at home, andher current cost of feed is $2 per week. Monique has a job that pays $8/hour with flexiblehours, but she is thinking of selling her chickens’ eggs to earn extra income. To start sellingeggs, she would need to increase production to 30 eggs per week. She can do this by increasingthe chickens’ feed to $3 per week and taking an hour off work each week to devote to chickenrearing. If the market price of her farm-fresh eggs is $1 per egg, what would be Monique’sweekly economic profits from selling her chickens’ eggs? (Select one from below) (a) −$9: This is her revenue minus her accounting cost.(b) −$1: This is her revenue minus her production cost.(c) $0: Eggs are a constant-cost market so producers must earn 0 profits.(d) $1: This is her revenue minus her economic cost.(e) $7: This is her revenue minus her…
Suppose, under license from Apple, a factory in China buys all the components for an iPhone from multiple manufacturers for $150 They assemble the iPhone and sell it to Apple for $350. Apple then sells the phone to customers for $699. How much value does Apple add during their step in the production process? Ⓒ$1.50 1200 O $349 O $350
PPF is based on Select one: a. Indirect cost O b. Opportunity cost c. Variable cost O d. Fixed cost
QUESTION 12 12. Which of the following statements is/are true? a) A change in supply of a good is the result of a change in its price b) A change in supply may be caused by a change the cost of production of the good O c) A change in quantity supplied is always caused by a change in an exogenous variable d) All of the above O e) Only (a) and (b) are true
Give me both answer with full explanation
Identify a correct statement about household production. O Household production is more likely to occur when the opportunity cost of household work is relatively small. O Household production is more likely to occur when it requires many specialized resources. O Household production is more likely to occur when tax avoidance is undesirable. O Household production is more likely to occur when less control over the final product is desirable. Household production is more likely to occur when technology makes it more costly than market production.
Briefly explain whether you agree with the following observation: Technological change refers only to the introduction of new products, so it is not relevant to the operations of most firms. O A. The statement is incorrect. Technology includes firm operations such as the skill of its managers. B. The statement is incorrect. Technology includes firm operations such as the efficiency of its equipment. O C. The statement is incorrect. Technology does not refer to the introduction of new products. O D. The statement is correct. O E. Both A and B
Inefficient production is represented by which point(s)?
When a firm produces one unit, the variable cost is $7. When the firm produces two units, the variable cost is $10. When the firm produces three units, the variable cost is $12. What is the marginal cost associated with three units of production? Select one: O a. 3 O b. 7 O c. 2 O d. 0
E Share Q Zoom TVC TC AVC MC 15 12 30
1