-2x^2y, if x=-3 and y=-1

Consider two neighboring island countries called Felicidad and Bellissima. They each have 4 million labor hours available per mo

Ilia_Sergeevich [38]

Answer:

Bellisima's opportunity cost:

Production of corn per million hours of labor = 12 / 24 = 0.5 pairs of jeans of corn
Production of jeans per million hours of labor = 24 / 12 = 2 bushels of corn

Felicidad's opportunity cost:

Production of corn per million hours of labor = 8 / 32 = 0.25 pairs of jeans of corn
Production of jeans per million hours of labor = 32 / 8 = 4 bushels of corn

Felicidad has a comparative advantage int he production of corn while Bellisima has a comparative advantage in the production of jeans.

If both countries specialize:

Felicidad will produce 128 million bushels of corn.
Bellisima will produce 48 million pairs of jeans.

Total production of corn has increased by 24 million bushels.

Total production of jeans has increased by 12 million pairs.

Assuming that Bellisima trades 26 million pairs of jeans and Felicidad exchanges 78 million bushels of corn, then:

Felicidad's consumption of jeans will increase by 2 million pairs, while their consumption of corn will increase by 50 million bushels.
Bellisima's consumption of jeans will increase by 10 million pairs, while their consumption of corn will increase by 6 million bushels.

8 0

3 years ago

There are two goods, apples and oranges, in a country. If the relative price of apples (in terms of oranges) is 4 and the opport

tino4ka555 [31]

Answer:

The workers will only produce oranges.

Explanation:

'Opportunity cost' is an important concept which shows the relationship between choice and scarcity. For example: One can spend money and time on one thing at a time but loses the opportunity do perform the other things, which would be his opportunity cost. Like you take a vacation for the money you have but the opportunity cost is not having a new car.

Relative price is the price of one commodity in terms of another. In the given situation, opportunity cost of an apple is 3 oranges and relative price of apple is 3, so the workers will produce only oranges, as it will be more profitable.

7 0

3 years ago

The marketing mix comprises four basic marketing strategies, collectively known as the four p's- product, place, price, and popu

ASHA 777 [7]

False, production is the missing P

5 0

3 years ago

An explanation of how gdp and gnp is important in marketing and how they relate to the marketing process

Tom [10]

Answer:

The overview of the instance would be described throughout the following section.

Explanation:

Throughout economics, GDP has been utilized to measure the amount profitability of a company manufactured inside the borders of a nation.
Whilst also GNP has been utilized to measure the amount of profit of an organization manufactured or organized by the nation's residents, regardless of geographic location.

5 0

2 years ago

The accounts in the ledger of Seaside Furniture Company as of August 20Y5 are listed in alphabetical order as follows. All accou

musickatia [10]

Answer:

Cash $426,800.00

Debit side $6,500,000.00

Credit side $6,500,000.00

Explanation:

Preparation of the Unadjusted trial balance

SEASIDE Unadjusted Trial Balance

DEBIT SIDE

Cash 426,800.00

Accounts Receivable 660,500.00

Prepaid Insurance 21,600.00

Supplies 11,200.00

Land 1,850,000.00

Dividends 36,000.00

Wages Expense 2,950,000.00

Utilities Expense 82,000.00

Rent Expense 390,000.00

Supplies Expense 23,700.00

Insurance Expense 18,000.00

Miscellaneous Expense 30,200.00

TOTAL $6,500,000.00

CREDIT SIDE

Notes Payable 75,000.00

Accounts Payable 118,600.00

Unearned rent 12,000.00

Common stock 150,000.00

Retained Earnings 1,814,400.00

Fees Earned 4,330,000.00

TOTAL $6,500,000.00

CASH will be the balancing figure since the total of both Debit and Credit columns of trial balance must equal.

Therefore the Unadjusted trial balance be:

Debit side $6,500,000.00

Credit side $6,500,000.00

8 0

2 years ago