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economics here need help 4. The following numbers measure

Customer Question

economics here need help



4. The following numbers measure the tradeoff between
grades and income:



Total hours Hours studying GPA Hours Working Income

60 60 4.0 0 0

60 40 3.0 20 $100

60 30 2.0 30 $150

60 10 1.0 50 $250

60 0 0.0 60 $ 300






a. Calculate the opportunity cost of an increase in the
number of hours spent studying in order to earn a 3.0
grade point average (GPA) rather than a 2.0 GPA.
b. Is the opportunity cost the same for a move from a
0.0 GPA to a 1.0 GPA as it is for a move from a 1.0
GPA to a 2.0 GPA?
c. What is the opportunity cost of an increase in income
from $100 to $150?


5. Suppose a second individual has the following tradeoffs
between income and grades


Total hours Hours Studying GPA HOURS WORKING INCOME

60 50 4.0 10 $60

60 40 3.0 20 $120

60 20 2.0 40 $240


60 10 1.0 50 $300


60 0 0.0 60 $360









a. Define comparative advantage.
b. Does either individual (the one in exercise 4 or the
one in exercise 5) have a comparative advantage in
both activities?
c. Who should specialize in studying and who should
specialize in working



7. Plot the PPC of a nation given by the following data


Combination Health care all other goods

A 0 100

B 25 90


C 50 70

D 75 40


E 100 0





a. Calculate the marginal opportunity cost of each
combination.
b. What is the opportunity cost of combination C?
c. Suppose a second nation has the following data. Plot
the PPC, and then determine which nation has the
comparative advantage in which activity. Show
whether the two nations can gain from specialization
and trade
Submitted: 6 years ago.
Category: Homework
Customer: replied 6 years ago.
Relist: I still need help.
need give me a answer
Customer: replied 6 years ago.
Relist: I still need help.
Expert:  Steve replied 6 years ago.

Hi,

 

Did you still need help with this?

 

Can you please post the data in table form and let me know when you need it by?

 

Steve

 

Customer: replied 6 years ago.
4.
total hours hours studying gpa hours working income
60 60 4.0 0 $0
60 40 3.0 20 $100
60 30 2.0 30 $150
60 10 1.0 50 $250
60 0 0.0 60 $300

5. total hours hours studying gpa hours working income
60 50 4.0 10 $60
60 40 3.0 20 $120
60 20 2.0 40 $240
60 1.0 1.0 50 $300
60 0.0 0.0 60 $360

7. combination health care all other goods
A 0 100
B 25 90
C 50 70
D 75 40
E 100 0


Here the tables my deadline is tomorrow by 5pm est
Expert:  Steve replied 6 years ago.

Hi,

 

There is still data missing. There should be data for two countries. Can you please post the entire, complete question? I will be happy to help and get you an answer by end of day saturday.

 

Thanks,

 

Steve

 

Customer: replied 6 years ago.
I dont see anything about two countries on the page
Expert:  Steve replied 6 years ago.

"c. Suppose a second nation has the following data. Plot the PPC"

 

 

 

Customer: replied 6 years ago.
This is suppose the the second nation chats<br /><br />Combination                         Health Care                      All other Good<br /><br />A                                                                       0                                                                      50<br /><br />B                                                                        20                                                                   40<br /><br />C                                                                           40                                                                   25<br /><br />D                                                                           60                                                                                                 5<br /><br />E                                                      65                                       0
Customer: replied 6 years ago.
Relist: I still need help.
Customer: replied 6 years ago.
Relist: I still need help.
my new deadline is tomorrow
Customer: replied 6 years ago.
Relist: No answer yet.
new deadline this sunday by 12:00 est

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