or even labor to produce this much.
3. What is the opportunitycost of increasing the annualoutput of cornfrom800 to 1000pounds?
The opportunitycost of increasing the annualoutput of cornfrom800 to 1000 is 200lbs of poultry.
4. What is the opportunitycost of increasing...
possibility frontier?
St. Atanagio would not be able to produce 650 pounds of poultry and corn. These amounts lie outside of the production possibility frontier.
3. What is the opportunitycost of increasing the annualoutput of cornfrom800 to 1000pounds?
To produce 200...
. If they produced 650 pounds of poultry then they would only be able to produce 550 pounds of corn. It would be the same if they tried to produce more corn they would produce less poultry.
3. What is the opportunitycost of increasing the annualoutput of cornfrom800 to 1000pounds...
this point lie relative to the production possibility frontier?
No, because if they produced 650 pounds of poultry then they’d only be able to produce 550 pounds of corn. (visa versa)
3. What is the opportunitycost of increasing the annualoutput of cornfrom800 to 1000pounds?
If...
. Atanagio produce 650 pounds of poultry and 650 pounds of corn? Explain. Where would this point lie relative to the production possibility frontier?
3. What is the opportunitycost of increasing the annualoutput of cornfrom800 to 1000pounds?
4. What is the opportunitycost of increasing...
Frontier Graph
[pic]
b. Can Atlantis produce 500 pounds of fish and 800pounds of potatoes?
A) No, the reason for this is resource limitations.
c. What is the opportunitycost of increasing the annualoutput of potatoes from 600 to 800pounds?
A) The opportunitycost in increasing the...
of fish and 800pounds of potatoes. This point would lie outside the production possibility frontier. Thus, if it produces 500 pounds of fish, the maximum potatoes it can produce are 600 pounds.
c. What is the opportunitycost of increasing the annualoutput of potatoes from 600 to 800pounds? (5...
possibility curve has an increasing slope as you move downward and a substitution ratio which is increasing.
5. Reduce the profit from alfalfa in Table 82 to 36$ per acre, calculate the new output price ratio and find the new profit maximizing combination. Do you produce more or less of the...
Principle B. Absolute Advantage C. Comparative Advantage 1. different opportunitycosts 2. example with a table of data a. increasing total output with specialization b. alternative formats for tabular data 3. Economic Naturalist 2.1: “Where have all the .400 hitters gone?” 4. Sources of...
, AND GAINS
FROM TRADE
1. Opportunitycost is 30,000 pounds
of butter.
2. Opportunitycost is 5,000 guns.
3.
Corn
produced
20,000
15,000
PPF
10,000
5,000
0
5,000 10,000 15,000 Rice
produced
4. Yes, these numbers illustrate the law of
increasingopportunitycost. The...
deviation of 15 pounds/day.) After ordering (fixed cost = $16 per order), beans are
always shipped from Hawaii within exactly 4 days. Perpoundannual holding costs for the beans
are $3.
a) What is the economic order quantity (EOQ) for Kona coffee beans? (400)
b) What are the total annual holding costs...
quantity
(ton)
52
45
70
24
26
Actual Production (Jan. 2001)
Activity Actual
ID
quantity
(ton)
A01
A02
A03
A04
A05
40
20
40
10
20
Actual
cost
($/ton)
Actual
period
(day)
Actual
date
Jan.
1100
1200
1000800
900
9
5
8
3
6
2 to 11
3 to 8
12 to 20...
. Total variable cost (TVC) changes with output.
Total fixed cost (TFC) is independent of the level of output. The total cost (TC) at any output is the vertical sum of the fixed cost and variable cost at that output.
$1100 1000 900 800Costs 700 600 500 400 300 200 100 0 1 2 3 4 5 6 7 8 9 Total...
800pounds of potatoes? (5 points) Explain. (5 points)
c. What is the opportunitycost of increasing the annualoutput of potatoes from 600 to 800pounds? (5 points)
d. What is the opportunitycost of increasing the annualoutput of potatoes from 200 to 400 pounds? (5 points)
e. Can you...
output of potatoes from 600 to 800pounds? (3pts) the opportunitycost of increasingoutputfrom 600 to 800 lbs. of potatoes is 200 lbs of fish. If Atlantis increased outputfrom 600 to 800 lbs of potatoes, it has to cut fish production from 500 lbs to 300 lbs, which is by 200 lbs.
d. What is...
, points outside the frontier are not feasible (Mankiw, 2001, p. 26). Because point b is outside of the frontier, Atlantis does not have the resources to produce 500 pounds of fish and 800pounds of potatoes.
c. What is the opportunitycost of increasing the annualoutput of potatoes from 600...
includes all the costs connected with the increase in output. If the overhead goes to $960 (rather than $800), what is the multifactor productivity? [Answer: .00875.] 1.1, 1.2, 1.5, 1.6, 1.7, 1.8, 1.9, 1.11, 1.12, 1.14, 1.15
LEARNING EXERCISE RELATED PROBLEMS
Use of productivity measures aids...
1994 and 1996, falling
12.5 percent.
6
U.S. Apple Association. Industry Profile. Retrieved August 25, 2005 from
http://www.usapple.or/media/industry/index.shtml.
7
Figure 3
U.S. Exports of Apples
800
700
Millions of Kilograms
600
500
400
300
200
100
0
1996...
, units per year
8001000
8 . 2 S H O RT RU N C O S T C U RV E S A P P L I C A T I O N
309
8.5 TABLE 8.6 What Affects Total Variable Costs for a Railroad?
A 10 Percent Increase in . . . Volume of output Track mileage Speed of service Price of fuel Price of labor Price of equipment...
.



 Points Received:  10 of 10 
 Comments:  


3.  Question :  (TCO A) The number of corn producers increases.
(4 pts.) What happens to the supply of corn?
(6 pts.) What happens to the demand for corn? 

 Student Answer:   The supply of corn...