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Statistical Techniques in Business and Economics15th EditionDouglas A. Lind, Samuel A. Wathen, William G. Marchal 1,236 solutions You’re given the following information about a newlywed couple Mike and Debbie. The table provides you with the time it takes each of them to do different chores: vacuuming a room or washing a load of dishes. Mike Vacuum 1 room = one hour 2 loads of laundry = one hour Debbie Vacuum 2 rooms = one hour 1 load of laundry = one hour What is Debbie's opportunity cost of washing a load of laundry in terms of vacuuming?
The ability to vacuum 2 rooms. The ability to vacuum 3 rooms. The ability to vacuum one room. The ability to vacuum 1/2 a room. Get the answer to your homework problem. Try Numerade free for 7 days We don’t have your requested question, but here is a suggested video that might help. Related Question'Suppose that Lo and Manuel can either run errands or wash dishes. Their maximum outputs per hour are listed in the following table Assume that opportunity costs are constant: Errands Run Dishes Washed 60 40 Lo Manuel Who has absolute advantage in running errands? Select ] (b) Who has comparative advantage in washing dishes? [Select ] Select Manuel' DiscussionYou must be signed in to discuss. Video TranscriptHi everyone. Welcome to this video. In this question we are given, and this information that he runs runs opportunity cost of one rand dishes washed, then opportunity cost of one dish washing. And the rules were given no. Hello and manual. All right, So and the ransom in our 13 Dishes at 60 and 15 Dishes was just 60 and 45. And the opportunity cost is one x 60 and one x 15. Thank you. Numerade has step-by-step video solutions, matched directly to more than +2,000 textbooks. Top Macroeconomics EducatorsRecommended Videos
03:48 Dan's Diner employs three dishwashers. Al washes 40% of the 03:40 Kayla can cook dinner in 30 minutes and wash the 03:26 Once again, in an hour, Mateo can wash 2 cars or mow 01:10 In an hour,
Mateo can wash 2 cars or mow 1 lawn, Additional Economics questions00:38 'If an economy is fully utilizing its resources, it can produce more of… 01:31 'Consider the following problem with asymmetric information in the cred… 04:40 'Apple and Samsung are two competing brands in smartphone device market… 02:38 'Calculate the implied annual inflation rate from a market interest rat… 01:08 'The value of z-critical is: * 04:18 'Consider the following Ricardian model with 2 countries and 2 goods: T… 00:33 'Kareem is directed to study the demographics, economic, natural, techn… 01:33 '4.As the price of good X increases from $20 to S24,the quantity demand… 02:06 'MCQs: 02:54 'The following
graph shows the market for loanable funds What is Mike's opportunity cost of vacuuming in terms of washing dishes?What is Mike's opportunity cost of vacuuming in terms of washing dishes? Washing 2 loads of dishes. (60/30 = 2) other over. Mike vacuums a room for 60 min and washes a load of dishes for 30 minutes.
What is Andys opportunity cost of cleaning offices in terms of cleaning jail cells?C. What is Andy's opportunity cost of cleaning jail cells in terms of cleaning offices? Cleaning 1/2 of an office.
What is the US opportunity cost of making cars?The opportunity cost of one car in the US is the amount of grain that worker cannot produce. Since a US worker can produce either 4 cars or 10 tons of grain per year, if she produces 1 more car, she can't produce 10/4 or 2.5 tons of grain.
What is comparative advantage and absolute advantage?Absolute Advantage: The ability of an actor to produce more of a good or service than a competitor. Comparative Advantage: The ability of an actor to produce a good or service for a lower opportunity cost than a competitor.
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What is debbies opportunity cost of washing a load of laundry in terms of vacuuming?
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