Look at the chart which shows data for five different oatmea…

Look at the chart which shows data for five different oatmeal cookie producers. Which sellers are NOT following the law of supply? (Hint: Observe the trend of Price and Quantity Supplied for all suppliers in this market. Use the definition of Law of Supply)

(Table: Competitive Market for Hats) Use Table: Competitive…

(Table: Competitive Market for Hats) Use Table: Competitive Market for Hats. The equilibrium price and quantity in this market are, respectively:   Table: Competitive Market for Hats P Qd Qs 0 90 0 5 80 20 10 70 40 15 60 60 20 50 80 25 40 100 30 30 120  

(Table: Cooking time). The table provides data on how long i…

(Table: Cooking time). The table provides data on how long it takes Marla and Jason to cook lasagna and cook chicken curry. (Hint: Carefully read the table and find the kind of information provided) ​ Marla’s opportunity cost of making lasagna is _____, and Jason’s opportunity cost is _____. _____ has a comparative advantage in making lasagna.

If South Korea must give up the production of 75 notebook co…

If South Korea must give up the production of 75 notebook computers to produce 25 additional cell phones, the opportunity cost of producing 4 cell phones is _____ notebook computers. (Hint: Find the opportunity cost of 1 cell phone in terms of notebook and then multiple the equation by 4 to get the final answer)

(Scenario: The Production of Computers and Cell Phones in Ca…

(Scenario: The Production of Computers and Cell Phones in Canada and the United States) Use Scenario: The Production of Computers and Cell Phones in Canada and the United States. The table describes the production of two goods, computers and cell 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 a comparative advantage: (Hint: Think what kind of information is provided in the table – input or output) ​ Scenario: The Production of Computers and Cell Phones in Canada and the United States Computers Cell Phones Canada 50 100 United States 25 75 ​