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EXTRA POINT Q5   The table describes the production of two goods, computers and phones, in Canada and the United States. Each country has a linear production possibility frontier with respect to its production of the two goods. The numbers in each column represent the total number of units each country could produce if it used all of its resources to produce the good. If each country specializes in the good in which it has the comparative advantage, then the price of 6 phones in terms of computer will be: Computers Phones Canada 50 100 United States 25 75

Emma spends $40,000 for one year’s tuition at university. The opportunity cost of one year at university for Emma is:

Assume that a tariff is imposed on Canadian imports into the United States. This tariff is likely to _____ American producers and _____ Canadian producers.

Consider market for apartments. The consumer surplus transferred from producers after the imposition of a price ceiling (rent control) is given by area:

When the government imposes a tariff on 3D printers, the price of printers rises from PW to P1, and the government revenue is:

An economy is inefficient if it is:

During the Obama administration, the development of low-cost batteries for electric cars received large amounts of federal funding in terms of subsidies. Meanwhile, American households gave a higher priority towards minimizing their environmental impact. Consider the market for zero-emissions electric vehicles where there is an upward-sloping supply curve and a downward-sloping demand curve. Which direction will demand and supply shift?

If a student did not receive an offer, what is the probability that they had applied to at least one investment bank? Compute three digits after the decimal point.

Suppose the cafe profits $2 from each premium coffee order and $5 is a fixed base profit (from other food item purchases) per customer. What is the variance of profit from each customer in dollars? Show your work on your scratch paper. 

Which of the statements below best characterizes the distinction between descriptive morality and normative ethics?