Ch.7 HW - Pg. 219 #1, 8, 11, 17, 18, 20, 21, 23 (a,b)...

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Anthony Marsala Professor Woodbury EC251H Sec. 2 Pg. 219 #1, 8, 11, 17, 18, 20, 21, 23 (a,b) 1. The opportunity cost of shipping products to the East Coast is instead  shipping them to Asia.  Because ships that return to Asia have relatively  low export quantities, most likely due to low U.S. product demand, it is  less expensive to ship there than the East Coast, where U.S. product  demand is much greater.  Since those ships must return to Asia anyway, it  would make sense to use them for wine exports instead of paying more for  a shipping company to move product between the West and East coasts.   8. The fixed cost, wages, is $8 per hour per worker.  Since each worker can  clean 4 rooms per hour, the cost of cleaning one room is $2.  It is assumed  that all workers work at the same rate and they are paid for fractions of an  hour.  Therefore, the variable cost increases by $2 for each additional office 
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Ch.7 HW - Pg. 219 #1, 8, 11, 17, 18, 20, 21, 23 (a,b)...

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