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Output cereal milk Dane 5 1 Corey-James 3 14 The table shows the maximum amount of cereal and milk that Dane and Corey-James can produce with the same amount of resources. What is Dane’s opportunity cost for 5 units of cereal? 1 units of milk What is Dane’s opportunity cost for 1 unit of cereal? 0.2 units of milk What is Corey-James’s opportunity cost for 3 units of cereal? units of (select unit) What is Corey-James’s opportunity cost for 1 unit of cereal? units of (select unit) What is Dane’s opportunity cost for 1 units of milk? 5 units of cereal What is Dane’s opportunity cost for 1 unit of milk? 5 units of cereal What is Corey-James’s opportunity cost for 14 units of milk? units of (select unit) What is Corey-James’s opportunity cost for 1 unit of milk? units of (select unit)

What is Opportunity Cost? Opportunity cost is the cost of giving up one item or opportunity in order to gain another. In economics, it is the cost of the forgone alternative when making a decision. Opportunity cost is an important

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The government is concerned about congestion on the highway and high commute times. The government thus decides to invest in an expansion of the highway by adding lanes to reduce congestion. After the expansion, the time it takes commuters who drive to get into the city is given by the function TD=34+N/200 . How many minutes will it take them to get into the city?

Answer The time it takes commuters who drive to get into the city after the expansion of the highway is given by the function TD=34+N/200, where N is the number of lanes added. Therefore, if only one lane is added,

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The government is concerned about congestion on the highway and high commute times. The government thus decides to invest in an expansion of the highway by adding lanes to reduce congestion. After the expansion, the time it takes commuters who drive to get into the city is given by the function TD=34+N/200 . Now how many commuters will drive to work?

Answer The number of commuters who will drive to work can be calculated using the given formula, TD = 34 + N/200. This formula states that the total time it will take commuters to get into the city is equal

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With the same amount of inputs, Ryo can make 3 units of bread and 4 units of butter, while Coel can make 6 units of bread and 5 units of butter. What is Ryo’s opportunity cost for 3 units of bread? units of butter What is Ryo’s opportunity cost for 1 unit of bread? units of butter What is Coel’s opportunity cost for 6 units of bread? units of butter What is Coel’s opportunity cost for 1 unit of bread? units of butter What is Ryo’s opportunity cost for 4 units of butter? units of bread What is Ryo’s opportunity cost for 1 unit of butter? units of bread What is Coel’s opportunity cost for 5 units of butter? units of bread What is Coel’s opportunity cost for 1 unit of butter? units of bread Directions: Answer the questions above based on the information given. Round your numerical responses to the nearest tenth.

Answer Opportunity cost is the cost of choosing one alternative over another. In this example, Ryo’s opportunity cost for 3 units of bread is 1 unit of butter, and Ryo’s opportunity cost for 1 unit of bread is 0.33 units

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Page 1 of 4 With the same amount of inputs, Faheem can make 7 units of birdhouses and 2 units of umbrellas, while Declyan can make 4 units of birdhouses and 7 units of umbrellas. What is Faheem’s opportunity cost for 7 units of birdhouses? units of (select unit) What is Faheem’s opportunity cost for 1 unit of birdhouses? units of (select unit) What is Declyan’s opportunity cost for 4 units of birdhouses? units of (select unit) What is Declyan’s opportunity cost for 1 unit of birdhouses? units of (select unit) What is Faheem’s opportunity cost for 2 units of umbrellas? units of (select unit) What is Faheem’s opportunity cost for 1 unit of umbrellas? units of (select unit) What is Declyan’s opportunity cost for 7 units of umbrellas? units of (select unit) What is Declyan’s opportunity cost for 1 unit of umbrellas? units of (select unit) Directions: Answer the questions above based on the information given. Round your numerical responses to the nearest tenth.

Answer: Opportunity cost is the cost of an action not taken in order to take another action. It is a measure of the lost potential for the alternative action. In this case, Faheem and Declyan each have the same amount

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https://aleck.ai/computational-economics/

What is Computational Economics? Computational economics is a sub-field of economics that studies economic behavior using computational methods. It combines economic theory, data analysis, and computer programming to develop economic models and simulations that provide insight into economic behavior. Computational

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You will be researching 3 people who show resilience (from the list). You will need to find 2 sources for EACH person. You will create your annotated bibliography with these 6 sources (meaning 6 annotated paragraphs). Your bibliography needs to be in MLA format.

Answer: Researching people who show resilience can be an inspiring and eye-opening task. In order to create an annotated bibliography with 6 sources, there are several steps that must be followed. Firstly, the researcher must select 3 people from the

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A gas filled weather balloon with a volume of 165.0 L is held at ground level, at an atmospheric pressure of 732 mmHg and a temperature of 22.0 C. The balloon is released and rises to about 18,000 m where the temperature is -4.35 °C and the balloon has expanded to 852 L. Calculate the pressure at the higher altitude in bar. (2 pts) v = 165L

Answer: Calculating Pressure at Higher Altitude The ideal gas law states that the pressure of a gas is inversely proportional to its volume, when temperature is held constant. Therefore, when the balloon is released and rises to a higher altitude,

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Item12 View previous attempt Item 12 The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a purely competitive firm producing different quantities of chocolate gift boxes. The market price for a box of chocolates is $5 per box. Instructions: Enter your answers as a whole number. Fill in the marginal revenue (MR) and average revenue (AR) columns. overs Cost and Revenue Quantity of Gift Boxes TC ($) MC ($) MR ($) AR ($) 10 65 4 5 15 82 3.50 5 20 102 4 5 25 127 5 5 30 162 7 5 35 207 9 5 Find the AR column

Answer: Average Revenue (AR) Average revenue (AR) is the total revenue (TR) divided by the quantity (Q). The total revenue (TR) is calculated by multiplying the price of a good or service (P) by the quantity (Q). The average revenue

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Given a price of $5 per gift box, how many boxes of chocolate should Choco Lovers produce? gift boxes What will profit or loss be per gift box? $ per gift box Suppose that Choco Lovers raises the price to $7 per gift box. Now how many boxes should Choco Lovers produce? gift boxes What will the new profit or loss be per gift box? $ per gift box

Calculating the Number of Gift Boxes Choco Lovers Should Produce Choco Lovers must consider both the price of the gift boxes and the associated profit or loss per box when determining the number of boxes it should produce. Price of

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Consider the IS-LM model of chapters 11 and 12. Assume that the IS curve is given by Y=2000+2G-T- 85 r and that the LM curve is given by Y=1000+ 79 r. Furthermore, assume that G=T=100. What is the equilibrium interest rate equal to? Include two decimal numbers in your answer.

Answer: What is the Equilibrium Interest Rate? The equilibrium interest rate is equal to 1.12. This can be determined using the IS-LM model of chapters 11 and 12. In this model, the IS curve is given by Y=2000+2G-T- 85 r,

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Assume that the consumption function is given by C=100+( 0.68 *(Y-T)), where Y = output and T = taxes. Assume that the investment function is given by I=200-10r, where r is the interest rate. Finally, assume that government spending G equals 150 and taxes T =50. What is the government spending multiplier equal to?

Answer: Government Spending Multiplier The government spending multiplier is the amount by which an increase in government spending will increase aggregate output. It can be found by using the following formula: multiplier = 1 / (1-MPC), where MPC is the

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Assume that the demand for real money balances is given by L=Y- 71 r; assume that money supply equals 1,297 and that the price level is 3 . Calculate the LM curve. Write the LM curve as Y as a function of r as follows: Y=C+Dr. What is C (the intercept) equal to? Include two decimal numbers in your answer.

What is the LM Curve? The LM curve is the Liquidity Preference Money Supply Curve, which is a graphical representation of the relationship between money supply and the interest rate. It is used to describe how changes in the money

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Assume that the consumption function is given by C=100+ ( 0.72 *(Y-T)), where Y = output and T = taxes. Assume that the investment function is given by I=200-10r, where r is the interest rate. Finally, assume that government spending G equals 150 and taxes T =50. Find the IS curve. Write this curve in terms of Y as a function of r as follows: Y = A – B r. If r = 5 , what is the the value of Y along the IS curve? Include two decimal numbers in your answer.

Answer: Finding the IS Curve The IS curve is derived from the equilibrium between aggregate demand (AD) and aggregate supply (AS). In the IS-LM model, the IS curve represents the equilibrium between real output (Y) and the real interest rate

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Consider the IS-LM model of chapters 11 and 12. Assume that the consumption function is given by C=100+ ( 0.72 *(Y-T)), where Y = output and T = taxes. Assume that the investment function is given by I=200-10r, where r is the interest rate. Finally, assume that government spending G equals 150 and taxes T =50. Find the IS curve. Write this curve in terms of Y as a function of r as follows: Y = A – B r. If r = 5 , what is the the value of Y along the IS curve? Include two decimal numbers in your answer.

Answer: IS Curve in Terms of Output Y as a Function of Interest Rate r The IS curve is given by Y = A – B r, where A and B are given by the following equations: A = G

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When the marginal product curve lies above the average product curve, _____. Multiple Choice the average product curve must be falling the total product curve must be falling the average product curve must be rising the marginal product curve must be rising

When the Marginal Product Curve Lies Above the Average Product Curve The marginal product curve is the rate at which output changes when one more unit of labor is added. The average product curve is the total output divided by

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Question 1 Inputs to an industrial process cost $10 per unit of input. Given a certain level of inputs (see table), the following total output quantities can be produced. Output is sold for $3 each. Units Total Product 1 10 2 19 3 27 4 33 5 35 a) What is the optimal quantity of input 1 to use? (4 marks) b) What is maximum profit the firm can earn using the optimal input level? (2 marks

Answer: Optimal Quantity of Input 1 The optimal quantity of input 1 to use for an industrial process can be determined with the help of a cost-benefit analysis. This analysis looks at the cost of each input and the benefit

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The following are the selling price, variable costs, and contribution margin for one unit of each of Banner Company’s three products: A, B, and C: Product A B C Selling price $ 70.00 $ 140.00 $ 110.00 Variable costs: Direct materials 31.00 31.00 55.20 Direct labour 13.50 45.00 18.00 Variable manufacturing overhead 4.50 15.00 6.00 Total variable cost 49.00 91.00 79.20 Contribution margin $ 21.00 $ 49.00 $ 30.80 Contribution margin ratio 30 % 35 % 28 % Due to a strike in the plant of one of its competitors, demand for the company’s products far exceeds its capacity to produce. Management is trying to determine which product(s) to concentrate on next week in filling its backlog of orders. The direct labour rate is $9 per hour, and only 3,380 hours of labour time are available each week. Required: 1. Compute the amount of contribution margin that will be obtained per hour of labour time spent on each product. (Round your intermediate calculations to 1 decimal place. Round your answers to 2 decimal places.)

Answer: Calculating the Contribution Margin per Hour of Labour Time The contribution margin per hour of labour time for each of Banner Company’s three products can be calculated by dividing the contribution margin for each product by the number of

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