The opportunity cost of producing 100 computer chips

This preview shows page 6 - 8 out of 8 pages.

We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Finite Mathematics and Applied Calculus
The document you are viewing contains questions related to this textbook.
Chapter 16 / Exercise 82
Finite Mathematics and Applied Calculus
Costenoble/Waner
Expert Verified
12.The opportunity cost of producing 100 computer chips for the US is:
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Finite Mathematics and Applied Calculus
The document you are viewing contains questions related to this textbook.
Chapter 16 / Exercise 82
Finite Mathematics and Applied Calculus
Costenoble/Waner
Expert Verified
Table for Individual Question FeedbackPoints Earned:3.0/3.0
13.The opportunity cost of producing 50 bed linens for the US is:
Table for Individual Question FeedbackPoints Earned:3.0/3.0
14.Using comparative advantage, which country should import bed linens?
THE US SHOULD IMPORT COMPUTER CHIPS SINCE THEY HAVE LOWER OPPORTUNITY COSTS IN PRODUCING BED LINENS RELATIVE TO SK AND THUS, HAS A COMPARATIVE IN PRODUCING BED LINENS AND SHOULD SPECIALIZE IN PRODUCING BED LINENSTable for Individual Question FeedbackPoints Earned:3.0/3.0
15.Marginal analysis involves undertaking an activityA) until its marginal costs start decliningB) only when its marginal benefits are positiveC) until its marginal benefits equal marginal costsD) only if its marginal costs are greater than its marginal benefitsCorrect Answer(s):C
Table for Individual Question FeedbackPoints Earned:0.0/3.0

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture