Electronex Corporation currently employs four workers. Tom is capable of producing 20 transistor radios or 5 cellular
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Electronex Corporation currently employs four workers. Tom is capable of producing 20 transistor radios or 5 cellular telephones.Sue can produce 8 radios or 8 phones.Jane can produce 4 radios or 16 phones.Bill can produce 40 radios or 20 phones.
- Graph the production possibilities frontier for Electronex Corporation. Place radios (R) on the vertical axis.
- What is the opportunity cost of producing the first 20 phones? Show calculations.
- What is the opportunity cost of producing the 37th radio? Show calculations.
- Suppose that Electronex is currently producing 60 radios and 16 phones. What is the opportunity cost of expanding radio production by 8 units? Explain.
General Industries uses inputs A, B, C, and D to produce two different goods, X and Y. Input A can produce 10 units of X or 5 units of Y. B can produce 20 X or 30 Y, C can produce 8 X or 16 Y, and D can produce 12 X or 12 Y.
- What is the cost of producing 20 units of X?
- What is the cost of producing 20 units of Y?
- What is the cost of producing the 30th unit of X.
- Can General Industries produce 16 units of Y and 22 units of X?
- Can they produce 30 units of X and 50 units of Y?
Related Book For
Practical Management Science
ISBN: 978-1305250901
5th edition
Authors: Wayne L. Winston, Christian Albright
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