Ise -griculture A -griculture B -griculture C Land Owner Opportunity Cost $40 $30 $20 ogging А, В $80 ogging A, C $70 ogging В, с $60 Mining А, В, С $110 /hat is the final range constraint for A?
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- Room Cleaning First Second Third Fourth Fifth 01 2 0 03 Aisha's Willingness to Pay Sara's Willingness to Pay $8 $7 $6 $5 $4 $10 $8 $6 $4 $2 Aisha and Sara are roommates who both benefit from having their room cleaned by a cleaning service. The table shows their individual willingness to pay for each room cleaning. The marginal cost of each room cleaning is $16. Considering that both roommates benefit when the room is cleaned, what is the efficient number of room cleanings per week that maximizes total surplus?Below is the production possibilities table for consumer goods (maize) and capital goods (tractors):Type of productionProduction possibilities A B C D Emaize 30 27 21 12 0Tractors 0 2 4 6 8i. Show these data graphically. ii. If the economy is at point C, what is the cost of one more unit of maize? iii. Suppose improvement occurs in the technology of producing tractors but not in the technology of producing maize. Draw the new production possibilities curve. iv. Now assume that a technological advance occurs in producing maize but not in producing tractors. Draw the new production possibilities curve. v. Now draw a production possibilities curve that reflects technological improvement in the production of both goods.Imagine a scenic canyon, visited by many local people as well as tourists from beyondthe local area. Consider a scenario in which a mining company has proposed to the localauthority that it be closed to the public and put into the production of coal. Thinking interms of economics as a way of adjudicating the relative value of one use of the canyon overthe other, what would you need to know in order to make a comparison or assessment?What kinds of quantitative data would inform your decision, and where might they comefrom? What kinds of things might you need to know that are hard to measure? Once youhave listed the kinds of information and data that might be available to inform this decision, do you think it would be sufficient to making this decision, why or why not?
- Refer to the table and figure below. Option A Option B Option C Option D Option E Option F 50 Production Options Output of Trucks per Day 50 40 30 20 10 0 Output of Tanks per Day 0 20 30 38 45 50 Production Possibilities CurveIn the given choices, is a contraint of resource/s? * O a. Pollution control laws O b. Inadequate demand c. Excessive production costs d. Inadequate financial capitalQUESTION1 16+ 12+ 2 4 Tractors Refer to the diagram, moving from point C to point D, shows that the opportunity cost of extra Tractor is: r the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I U S 14px A v Ix Paragraph Arial ve and Submit to save and submit. Click Save All Answers to save all answers. DELL Bread !!!
- Fish Fruit Possibility (pounds) (pounds) 56 A 37 B 31 78 20 90 D 99 Robinson Crusoe divides his time between catching fish and gathering fruit. Part of his production possibilities frontier is given in the above table. If Mr. Crusoe is on his PPF and he increases the amount of fruit he gathers from 56 to 90 pounds, the opportunity cost is O A) 34 pounds of fruit. B) 90 pounds of fruit. C) 17 pounds of fish. D) 37 pounds of fish. O E) 31 pounds of fish.Figure 1 below shows two production possibilies frontiers (PPFs). The solid one isthe original one. The dashed one is the PPF after a technological advance that hasbenefitted only the Y indusry. As an example, think of the invention of fruitpicking robots that benefits only agricultural production and is of no use insoftware production.Figure 2 shows the marginal social benefit (MSB) of X production in terms ofsacrifices of Y. For example, to produce the first unit of X, the society is willing togive up 40 units of Y. For the second unit the socirty is willing to sacrifice only 35units of Y.Before the technological advance:1. What are the marginal social costs (MSCs) of producing the second,third, and the fourth units of X in terms of the sacrifices of Y. Do youremember the reasons for these results?2. What are the allocatively efficient quantities of X and Y?3. Suppose that due to some good news about various health benefits of X,the marginal social benefit of X increases by 10 units…Figure 1 below shows two production possibilies frontiers (PPFs). The solid one isthe original one. The dashed one is the PPF after a technological advance that hasbenefitted only the Y indusry. As an example, think of the invention of fruitpicking robots that benefits only agricultural production and is of no use insoftware production.Figure 2 shows the marginal social benefit (MSB) of X production in terms ofsacrifices of Y. For example, to produce the first unit of X, the society is willing togive up 40 units of Y. For the second unit the socirty is willing to sacrifice only 35units of Y.Before the technological advance:1. What are the marginal social costs (MSCs) of producing the second,third, and the fourth units of X in terms of the sacrifices of Y. Do youremember the reasons for these results?2. What are the allocatively efficient quantities of X and Y?3. Suppose that due to some good news about various health benefits of X,the marginal social benefit of X increases by 10 units…
- Reler to the producton possbity frortier below tor a town that produces Ice creams and Jelly beans. The maximum amount of loe creame is 50o0 with no Jety besne, or 20,000 Jely beans with no loe creams CREAMS 20,000 Answer brietly these TWO questions in the box space provided below Part A Assuming efficient production, derive the maximum amount of Jelly beans that can be produced along with 300 loe creams * Show your steps. Part Determine if the production point is feasible and efficient Ice creams 250, Jely beans = 8.000. Show your stepsFour roommates are planning to spend the weekendin their dorm room watching old movies, and they are debating how many to watch. Here is their willingness to pay for each film: a. Within the dorm room, is the showing of a movie apublic good? Why or why not?b. If it costs $8 to rent a movie, how many moviesshould the roommates rent to maximize totalsurplus?c. If they choose the optimal number from part(b) and then split the cost of renting the moviesequally, how much surplus does each personobtainfrom watching the movies?d. Is there any way to split the cost to ensure thateveryonebenefits? What practical problems doesthis solution raise?e. Suppose they agree in advance to choose theefficientnumber and to split the cost of themoviesequally. When Judd is asked his willingnessto pay, will he have an incentive to tell thetruth? If so, why? If not, what will he be temptedto say?f. What does this example teach you about theoptimalprovision of…Room Cleaning N First Second Third Fourth Fifth 3 Aisha's Willingness to Pay Sara's Willingness to Pay $10 $8 $6 $4 $2 Aisha and Sara are roommates who both benefit from having their room cleaned by a cleaning service. The table shows their individual willingness to pay for each room cleaning. The marginal cost of each room cleaning is $16. $8 $7 $6 $5 $4 Considering that both roommates benefit when the room is cleaned, what is the efficient number of room cleanings per week that maximizes total surplus? 01