uppose a new hormone is discovered that increases the productivity of the workers in producing beef, but does not affect the production of cabbage.How will that development change the production possibilit
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Suppose a new hormone is discovered that increases the productivity of the workers in producing beef, but does not affect the production of cabbage.How will that development change the production possibility fortier.
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- The graph below is Mendork's production possibility curve for the only two goods that it produces: quirks and quarks. Quantity of Quarks 800 700 600 500 400 300 200 100 2 4 6 8 10 12 14 16 18 20 Quantity of Quirks Note: If the image does not appear, right-click on the placeholder and choose Show picture or View image. If Mendork's current production is at point A, what is the (approximate) cost of producing one more quirk? a) 50 quarks B b) 100 quarks c) 200 quarks d) One more quark e) 25 quarksWhat is economics constants?Give two factors that lead to the price of energy from new technologies to increase.
- Suppose there is an exogenous change to the market for apples that caused supply of apples to increase by 20,000 kgs at every price, which of the following would NOT explain this exogenous change? An increase in number of sellers. O Technological improvement. Reduction in cost of inputs. O Increase in population size. O Favourable environmental/climate conditions.What is the scope of agricultural economistsAs an economist it is important to know that resources are scarce. Explain what u understand that resources arenscarce in economic terms
- The graph below is Mendork's production possibility curve for the only two goods that it produces-quirks and quarks. Quantity of Quarks 800 700 600 500 400 300 200 100 A 2 4 6 8 10 12 14 16 18 20 Quantity of Quirks Select one: Refer to the graph above to answer this question. If new technology increased the output of quirks by 50%, how many quirks could be produced if 700 quarks were produced? B A. 9 quirks. B. 18 quirks. C. 10 quirks. D. 20 quirks. E. No quirks.When an economist say a resource is free what does it meanWhat is an economic variable?
- An endogenous variable is a variable explained by an economic model. An exogenous variable is a variable that is taken as given and is not explained by an economic model. True O FalseIs there any graph that can show about the Malthusian Theory of the decreasing in supply food that will increase the population?To say that “there is a scarcity of diamond” means that