This preview shows pages 1–2. Sign up to view the full content.
Finance 30210 Managerial Economics Quiz #1 Name___________________________ 1)Suppose that we have the following information about productivity (in terms of production per hour) for the following countries: Country Cheese (kg/hr) Wine (Liters/hr) France 2 5 Germany 3 6 England 8 4 a)For each country, calculate the opportunity cost of cheese production. Rank the three countries in term of efficiency in cheese production. France: (5/2) units of wine per unit cheese (#3) Germany: 2 units of wine per unit cheese (#2) England: .5 units of wine per unit cheese (#1) b)Suppose that each country has 40 hours per week available for wine and cheese production. Plot the supply curve for cheese.
has intentionally blurred sections.
Sign up to view the full version.