Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The opportunity cost per unit is basically figuring out what is give up using Per Unit O.C in the chart. 1. Anna and Barry can

The opportunity cost per unit is basically figuring out what is give up using Per Unit O.C in the chart.

image text in transcribed
1. Anna and Barry can grow the following amounts 1. Ty and Jessica own a lawn care company. Ty of potatoes and cabbage with the same amount of can mow a lawn in 60 minutes and trim the lawn in labor. Anna can produce 50 potatoes and 100 30 minutes. Jessica can mow a lawn in 90 minutes cabbages. Barry can produce 120 potatoes and and trim the lawn in 75 minutes. 150 cabbages. (Non-anonymous question (7 ) (8 (Non-anonymous question ? ) (8 Points) Points) 1. Create a chart where you find the per unit opportunity cost for each 1. Create a chart where you find the per unit opportunity cost for each option. option. 2.Output or Input? 2. Output or Input? 3. Identify absolute advantage for producing each good or service. 3. Identify absolute advantage for producing each good or service. 4. Identify comparative advantage for producing each good or service. 4. Identify comparative advantage for producing each good or service. 5. Identify who should specialize in each production. 5. Identify who should specialize in each production. . . . 2. Mike and Debbie have a cleaning business. 2. In one hour, Ted can produce 60 pounds of fish Mike can vacuum a room in 45 minutes and wash and 30 pounds of cheese. In one hour, Nancy 45 a load of dishes in 15 and Debbie can vacuum a pounds of fish or 15 pounds of cheese. room in 30 minutes and wash a load of dishes in (Non-anonymous question ? ) (8 Points) 10 minutes. (Non-anonymous question ? ) (8 Points) 1. Create a chart where you find the per unit opportunity cost for each option. 1. Create a chart where you find the per unit opportunity cost for each 2. Output or Input? option. 2. Output or Input? 3. Identify absolute advantage for producing each good or service. 3. Identify absolute advantage for producing each good or service. 4. Identify comparative advantage for producing each good or service. 4. Identify comparative advantage for producing each good or service. 5. Identify who should specialize in each production. 5. Identify who should specialize in each production. 3. Andy and Hannah own a cleaning business. 3. In one hour, the Unites States can produce 10 Andy can clean a office in 60 minutes or clean a cars or 5 computers. In one hour, Japan can kitchen in 30 minutes. Hannah can clean a office produce 12 cars or 8 computers. in 20 minutes and clean a kitchen in 15 minutes (Non-anonymous question ? ) (8 Points) (Non-anonymous question ? ) (8 Points) 1. Create a chart where you find the per unit opportunity cost for each 1. Create a chart where you find the per unit opportunity cost for each option. option. 2.Output or Input? 2. Output or Input? 3. Identify absolute advantage for producing each good or service. 3. Identify absolute advantage for producing each good or service. 4. Identify comparative advantage for producing each good or service. 4. Identify comparative advantage for producing each good or service. 5. Identify who should specialize in each production. 5. Identify who should specialize in each production. 6. Mark and Doreen work a car stereo installation center. In one hour, mark can install 4 radios or 2 speakers. In one hour, Doreen can 10 radios or 4 speakers. (Non-anonymous question ? ) (8 Points) 1. Create a chart where you find the per unit opportunity cost for each option. 2. Output or Input? 3. Identify absolute advantage for producing each good or service. 4. Identify comparative advantage for producing each good or service. 5. Identify who should specialize in each production

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles of economics

Authors: N. Gregory Mankiw

6th Edition

978-0538453059, 9781435462120, 538453052, 1435462122, 978-0538453042

More Books