Fill in the blanks. A B C D E Pencils 600 530 430 250 0 Pens 0 100 200 300 400 As Catalonia moves from Point D to Point E on their production possibilities curve, they must give up produce an additional 100 pens. pencils in order to
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- From production function how can we get cheapest way of producing 600 units of outputA small company that shovels sidewalks and driveways has 100 homes signed up for its services this winter. It can use various combinations of capital and labor: intensive labor with hand shovels, less labor with snow blowers, and still less labor with a pickup truck that has a snowplow on front. To summarize, the method Choices are: Method 1: 50 units of labor, 10 units of capital Method 2: 20 units of labor, 40 units of capital Method 3: 10 units of labor, 70 units of capital If hiring labor for the winter costs $100/unit and a unit of capital costs 400, what is the best production method? What method should the company use if the cost of labor rises to $20/unit?Suppose the cost of machines increases to 55, while the cost of labor stays at 40. How would that affect the total cost of the three methods? Which method should the film choose now?
- The following table shows the production possibilities for the country of Erewhon: A CDEF Wine 10 18 24 28 30 Cheese 40 28 18 10 4 0 What is the total cost of producing the first 10 units of wine? O a. 24 units of cheese O b. 28 units of cheese O c. 12 units of cheese O d. 6 units of cheese B.Long answer Explain all resources that economic relies on.Donot forgett to make stages of production graphically..
- Which of the following indifference curve the slope of the production possibilities frontire? A, Opportunity cost B, Marginal cost C, Indifference Curve D, Marginal ProductQUESTION 9 Any point inside the production possibilities curve indicates. O A. the presence of technological change O B. that resources are imperfectly substitutable among alternative C. the presence of inflationary O D. that more output could be produced with the available uses. pressures resourcesOutput Mathew Danar bagels 9 4 cream cheese 12 9 What is Mathew's opportunity cost for 9 units of bagels? What is Mathew's opportunity cost for 1 unit of bagels? What is Danar's opportunity cost for 4 units of bagels? What is Danar's opportunity cost for 1 unit of bagels? What is Mathew's opportunity cost for 12 units of cream cheese? What is Mathew's opportunity cost for 1 unit of cream cheese? What is Danar's opportunity cost for 9 units of cream cheese? The table shows the maximum amount of bagels and cream cheese that Mathew and Danar can produce with the same amount of resources. What is Danar's opportunity cost for 1 unit of cream cheese? units of (select unit) units of (select unit) units of (select unit) units of (select unit) units of (select unit) units of (select unit) units of (select unit) units of (select unit)
- The accompanying table shows the total daily output for a firm producing specialty cakes and operating with a fixed amount of capital. The cost of labour is $50 per unit per day and the fixed cost of the capital is $2000 per day. ain N E Click the icon to view the table. ssign o Hor a. Using the information provided, compute all of the short-run costs for this firm and complete the table. Remember to record the marginal costs between the rows indicating total cost. Complete the third, fourth, and fifth columns of the table. ake a Units of Labour Total Output (per day) (per day) TFC TVC TC MC AFC AVC ATC 200 $4 10 500 $ 15 1100 20 1750 1) 25 2050 6) 30 2190 1/1) 1/1) 35 2270 1/1) 只只Utopia produces only two products: cheese and wine. The production levels are shown in the table below. Cheese % inputs Ø 20 48 60 80 108 output 0 60 100 130 150 160 A 0 % inputs 0 20 40 B 60 80 100 a. From this data, complete Utopia's production possibilities table below. Possibility Cheese Wine Wine с output 0 80 140 190 210 220 D b. Utopia (Click to select) c. If Utopia is at D. the total cost of 20 more cheese is d. If Utopia is at D. the total cost of 50 more wine is E produce 130 cheese and 190 wine. wine. cheese. F 0 AHow firm choose optimum combination of inputs in short run and in logn run explain theoritically and graphically?
