We have two individuals, A and B, who works 40 hours per week each. They each consume food and clothing. It takes each person 10 hours to set up the production of food, and thereafter it takes 1 hour per production of 1 unit of food. How many units of food can each person produce in 1 week?

You are planning a move across town. Doing your research you find that the average rate of a moving company is $250 per hour for two movers (moving truck included). The marginal benefit you receive from each hour of the two movers’ time (and truck) is listed in the accompanying table. Hours of movers’ time Marginal benefit 1 hour $850 2 hours $620 3 hours $500 4 hours $250 5 hours $150 6 hours $100 7 hours $0 For how many hours should you hire the movers? How much consumer surplus do you receive? Now suppose that instead of paying per hour, a moving company offers a flat rate of $1,500 for two movers plus a truck for an eight-hour day. Would you hire the movers? How has your consumer surplus changed?

I do not understand the meaning of this question, if it is required to complete the task as soon as possible. I think it should be two people working at the same time, and according to the barrel effect, select a situation where the maximum time is short?

In an eight-hour day, Andy can produce either 8 loaves of bread or 24 kilograms of butter. In an eight-hour day, Rolfe can produce either 8 loaves of bread or 8 kilograms of butter. At what price will trade happen?

Suppose you are a department manager in a large consulting firm, and you have an assignment to produce a customized automated billing system for a client in the next week. Your boss asks you to find the least costly way to produce the billing system. To produce the billing system, you'll need to use computers and programmers. The blue isoquant curve on the following graph shows the combinations of computers and programmers that you can use to create the billing system in a week. CAPITAL (Number of computers) 10 9 8 7 3₂ 1 0 O 1 2 3 4 5 7 LABOR (Number of programmers) 6 8 9 10 A TC ?

Suppose that Verania and Josimar are roommates that need to complete some household chores. Vacuuming and washing dishes need to be done. They know from the last time they did these chores that it takes Verania 2 hours to vacuum and 1 hour to wash dishes. It takes Josimar 3 hours to vacuum and 2 hours to wash dishes. Josimar says it does not matter which task each of them performs because Verania is faster at both tasks. Josimar’s reasoning a. is wrong. Because Verania has a comparative advantage in washing dishes, she should wash dishes, and Josimar should vacuum. b. is correct. Because Verania is faster at both tasks, there is no benefit in each volunteer specializing in one task or the other. c. is wrong. Because Verania has an absolute advantage in both tasks, she should perform both tasks herself. d. is wrong. Because Josimar has a comparative advantage in washing dishes, he should wash dishes, and Verania should vacuum.

You produce shoes (Q) with labor (L) and capital (K). The production process is as so: Q = 400L - 20L2 + 600K – 10K2 The cost of labor is $20 and the cost of capital is $30. You have a budget of $550. How many units of capital(K) should you rent/buy? Enter as a value.

Com 120.000 D 80.000 40.000 Robots 5.000 10.000 15.000 In the graph above, the resources in this economy are

If a family spends its entire budget in a given time frame, the family can afford either 95 cans of vegetables or 40 frozen dinners. Assuming the family spends its entire budget on just these two goods, what is the opportunity cost of a can of vegetables in the time frame?

In the Disney movie Frozen, the Kingdom of Arendelle changes overnight from a warm, flower filled place to being completely frozen (the story takes place in July).  Just after this change in weather, there is a scene where two characters visit a trading post.  At the trading post one character (Kristoff) is looking to buy winter transportation equipment and eventually sell some ice.  The other character (Anna) is looking to buy some winter clothes.  A link to the scene can be found in the module. For this assignment, please show how this change in weather would likely effect the markets for winter transportation equipment, winter clothes, and ice (assume the ice would be used by people who want to cool drinks).  Specifically, draw a new supply or demand curve for the products and identify new equilibrium quantity or supply if you think the change in weather would have an impact on any of those measurements. In the clip Kristoff calls Oaken a crook for charging higher prices than he…