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A country produces ethanol from sugar, and the land used to grow sugar can be used to grow food crops.Suppose that country’s production possibilities for ethanol and food crops are as follows.
Ethanol(barrels Food crops(tons per
per day) day)
70 0
64 1
54 2
40 3
22 4
0 5
1) a) Draw a graph of the country’s production possibilities curve and explain how the graph illustrates scarcity.
2) b) If this country produces 49 barrels of ethanol a day, mhow much food must it produce to achieve production efficiency?
3) c) why does this country face a trade off on its PPC?
A company uses a variable speed honing machine toincrease the smoothness of the inside wallsof hydraulic jacks.The hone uses acid-dipped "brushes" o pesform this operation.Increasing!he speedof themachine resultsin faster operation,but reduces brush life.A single "brush" costs $90.00 and can be refurbished several times before its usefulIfie is over.The number of refurbishings dep€nds on the honilg speed.Each refurbishilg cosls S40.00.Assume a refurbished brush cansmooth thesame amountas a new brush,andIha!when purchased a new brush is ready o use. The operating cost forthe hone and operalor is SS0.001111.
Below islhe data for operating the hone al3 different speeds.The time required for changing brushes is incorporated into thehoning rates beow.Which honing speed is the most economical?HINT:find the cost per jack,not p€r honeor per cycle!
All economic questions arise from scarcity. Explain this.
Every choice is a trade off. Explain this.
it is orthodox to say people’s desire has no boundary from the time past, even in the face realistic limited resources, individual agents never stop to want more of economic output”
I have a Gst credit of 15,000

Does PAYG withholding and installment take away from it
1,500 and 6,000

From that would i get a refund of 7,500?
Five factors increase demand for viennas
table 4.6 shows the amount of savings and borrowing in a market for loans to purchase homes, measured in millions of dollars, at various interest rates. what is the equilibrium interest rate and quantity in the capital financial market?
The demand for petrol rises from 500 to 600 barrels when the price of a particular scooter is reduced from Rs. 25000 to Rs. 22000. Find out the cross elasticity of demand for the two. What is the nature of their relationship?
Price effect is the summation of income effect and substitution effect
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