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Q: Micro ( Answered,   0 Comments )
Question  
Subject: Micro
Category: Business and Money > Economics
Asked by: k9queen-ga
List Price: $17.00
Posted: 05 Oct 2003 12:38 PDT
Expires: 04 Nov 2003 11:38 PST
Question ID: 262904
1)Assume that in one hour workers in Country One can produce 12
bushels of wheat in one hour or in one hour workers can produce 6
televisions.  For Country One the cost of producing one unit of wheat
is:
a)2 televisions
b)6 televisions
c)1/2 a television
d)none of the above

2)Assume that in one hour workers in Country Two can produce 3 bushels
of wheat or in one hour workers can produce 1 television.  For Country
Two the cost of producing one unit of wheat is:
a)1/3 a television
b)1 television
c)3 televisions
d)none of the above

3)Assume that in one hour workers in Country One can produce 12
bushels of wheat or in one hour workers can produce 6 televisions. 
Assume that a unit of wheat is selling for $60 in Country One.  If a
producer in Country One is indifferent between producing wheat or
televisions then the price of a television in Country One must be
equal to:
a)$120
b)$30
c)$60
d)$180

4)Assume that in one hour workers in Country Two can produce 3 bushels
of wheat or in one hour workers can produce 1 television.  Assume that
a unit of wheat is selling for $60 in Country Two.  If a producer in
country Two is indifferent between producing wheat or televisions then
the price of a television in Country Two must be equal to:
a)$180
b)$20
c)$60
d)$120

5)Assume that in one hour workers in Country One can produce 12
bushels of wheat or in one hour workers can produce 6 televisions. 
For Country One the cost of producing one television is:
a)three units of wheat
b)twelve units of wheat
c)two units of wheat
d)1/3 unit of wheat
Answer  
Subject: Re: Micro
Answered By: scriptor-ga on 05 Oct 2003 13:18 PDT
 
Dear k9queen,

1.
The answer is: c)1/2 a television

2.
The answer is: a)1/3 a television

3.
The answer is: a)$120

4.
The answer is: a)$180

5.
The answer is: c)two units of wheat

Hope this answers your questions.
Regards,
Scriptor
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