Answer: a. benefits Boxlandian consumers by $672 and harms Boxlandian producers by $598.50.
Explanation:
Equilibrium price will be at level where quantity demanded equals quantity supplied.
200 − 2P = -60 + 3P
200+60 = 5P
5P = 260
P = $52
Equilibrium Quantity Demanded = 200 − 2P = 200 - 2 * 52 = 96 units
In a no-trade situation the demand in Boxland is 96 units at a price of $52. If they were to buy at the world price of $45, they would benefit;
= (96 * 52) - (96 * 45)
= 4,992 - 4,320
= $672
Producers however would produce the following at a price of $45;
Q S = -60 + 3P
= -60 + 3(45)
= 75 units
They would be supplying less units and be hurt.
Answer:
Accuracy and attention to detail, Problem solving and critical thinking skills, Knowledge of programming language .
Explanation:
Hooe it helps..
Answer:
see below
Explanation:
The terms opportunity cost and trade-off are, in most cases, used interchangeably. Opportunity cost occurs due to scarcity of resources. Individuals have to make choices among the options available to them. The fortified option is the trade-off or the opportunity cost.
Opportunity cost is measured by obtaining the value of the next best alternative. In other words, the cost of the most valuable sacrificed option is the opportunity cost. For example, if a student has $50, he can purchase a meal valued at $45, watch a movie valued at $40 or buy a book for $ 47. assuming he opts to buy the book, the meal becomes the opportunity cost because it represents the next best alternative.
I would say true because hiring more people would allow more production
