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JulijaS [17]
3 years ago
9

Initially, suppose Bellissima uses 1 million hours of labor per week to produce corn and 3 million hours per week to produce jea

ns, while Felicidad uses 3 million hours of labor per week to produce corn and 1 million hours per week to produce jeans. Consequently, Felicidad produces 15 million bushels of corn and 20 million pairs of jeans, and Bellissima produces 8 million bushels of corn and 48 million pairs of jeans. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each country consumes the amount of corn and jeans it produces.What is Felicidad's oppunrtunity cost for 1 bushel of corn?
Business
1 answer:
stiv31 [10]3 years ago
5 0

Answer:

Bellisima's opportunity cost to produce 1 bushel of corn = 2 pairs of jeans

Explanation:

Bellisima uses 1 million hours of labor to produce corn and 3 million hours of labor to produce jeans. Produces 8 million bushels of corn and 48 million pairs of jeans.

  • Production of corn per million hours of labor = 8 / 1 = 8 bushels of corn
  • Production of jeans per million hours of labor = 48 / 3 = 16 pairs of jeans

Felicidad uses 3 million hours of labor to produce corn and 1 million hours of labor to produce jeans. Produces 15 million bushels of corn and 20 million pairs of jeans.

  • Production of corn per million hours of labor = 15 / 3 = 5 bushels of corn
  • Production of jeans per million hours of labor = 20 / 1 = 20 pairs of jeans

The opportunity cost refers to the extra costs or benefits lost form choosing one activity or investment over another alternative.

  • Bellisima's opportunity cost to produce 1 bushel of corn = 16 pairs of jeans / 8 bushels of corn = 2 pairs of jean per bushel of corn.
  • Bellisima's opportunity cost to produce 1 pair of jeans = 8 bushels of corn / 16 pairs of jeans = 0.5 bushels of corn per pair of jean.

  • Felicidad's opportunity cost to produce 1 bushel of corn = 20 pairs of jeans / 5 bushels of corn = 4 pairs of jean per bushel of corn.
  • Felicidad's opportunity cost to produce 1 pair of jeans = 5 bushels of corn / 20 pairs of jeans = 0.25 bushels of corn per pair of jean.

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3 years ago
The consumer confidence index published by the conference board measures consumer:_______
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6 0
1 year ago
Lisa's opportunity cost rate is 10 percent compounded annually. How much must she deposit in an account today if she wants to re
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Answer:

e) $21,804

Explanation:

Annuity payments at the end of each year is an Ordinary Annuity . Using a financial calculator, input the following;

Total duration; N = 12

Interest rate; I/Y = 10%

Onetime future value ; FV = 0

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3 years ago
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discount on BP    6,000 debit

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Explanation:

We multiply the face value by the issuance quote over 100

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Then, the difference will be considered discount as the bond were issued below their face value

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We are going to debit cash for the amount collected and then, debit the discount to adjust the bonds payable to the carrying value of 294,000

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