Explanation:
here is an explanation and solution to your question
For Euphoria:
The opportunity cost of producing a unit of rye in terms of jeans =20/5 = 4
for contente:
The opportunity cost of producing a unit of rye in terms of jeans = 16/8 = 2
opportunity cost of producing 1 unit of jean in terms of unit of rye:
for euphoria = 5/20 = 1/4
for contente = 8/16 = 1/2
1.
Euphoria's opportunity cost of producing a a bushel of rye is 4 pairs of jeans.
contentes opportunity cost of producing a bushel of rye is 2 pairs of jeans.
2.
contente has comparative advantage in producing rye
euphoria has comparative advantage in jeans production
3
contente produces 8 bushels of rye so with 4 million hours of labor = 8x4 = 32 million bushels in a week.
euphoria 20 pairs of jean in a week, using 4 million hours of labor. 20x4 = 80 pairs of jean a week
Answer:
1. economic growth;
2. the size of the economy
Explanation:
According to the neoclassical standpoint on issues relating to macroeconomics, it is believed that, over a long period of time, the economy will vary around its potential GDP and its natural rate of unemployment.
Therefore, the size of the economy is defined by potential GDP, and wages and prices will adjust in an intelligent manner so that the economy will move back to its potential GDP level of output.
Hence, The neoclassical view holds that long-term expansion of potential GDP due to ECONOMIC GROWTH will determine THE SIZE OF THE ECONOMY
Answer:
The correct option is A, risk averse
Explanation:
Risk aversion is a situation where a person undertaking a business or an investor tries as much as possible to limit exposure to losses by taking drastic steps to ensure the losses do not materialize.
The publisher in this case is conscious of facing the lawsuit that could result from publishing story and has taken a precautionary measure by not even venturing into the publishing ,let alone a lawsuit with substantial amount in damages rears its ugly head.
A risk seeking investor would go ahead with the publishing since success could bring a juicy income
Answer:
variable cost per unit 150 dollars
Explanation:
As we aren't provided with a volume. We calculate considering variable costying system which onyl count variable cost as cost of goods manufactured:
raw material $ 75 per unit
labor 5 hours x 14 per hour = $ 70 per unit
variable ovehread $ 5 per unit
Variable cost per unit $ 150 per unit
the fixed overhead cost
5,110 + 3,730 + 1,550 + 6,600 + 8,760 = 25,750
will be considered cost of the period under variable costing
