Saudi Electronic University PPF Analyses Economics Worksheet

Description

5 attachmentsSlide 1 of 5attachment_1attachment_1attachment_2attachment_2attachment_3attachment_3attachment_4attachment_4attachment_5attachment_5.slider-slide > img { width: 100%; display: block; }
.slider-slide > img:focus { margin: auto; }

Unformatted Attachment Preview

Question-1
Bill can produce either tables or chairs. Bill can work up to 10 hours a day. His production possibilities are given in
the table below:
(3 Marks)
Tables
Chairs
0
200
50
180
60
160
70
140
80
120
90
0
1. Explain production possibilities frontier (PPF) by putting tables on the Horizontal axis and chairs on the
vertical axis. What is Bill’s opportunity cost of producing one additional table?
2. Currently Bill is producing 70 tables and 140 chairs. Is this allocation of resources efficient? Why?
3. Show this allocation on the graph and advise Bill how he can be more efficient.
Question-2
Explain by applying these concepts with examples.
(2 Marks)
1. Rational people respond to incentives
2. Role of prices in allocating resources
Question-3
The table below shows the marginal benefit that Khaled earns from keeping his store open one more
hour. Khaled has a marginal cost of $40 per hour. Khaled stays open 20 hours. (3 Marks)
????????
Mirigykorig
??????? ????
Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University
???? ?????
??????? ??????? ????????
????? ???????
??????? ???????? ??????????
SAUDI ELEC
UNIVERS
ECTRONIC
College of Administrative and Financial Sciences
Hours
Marginal Benefit Per
Hour
200
20
21
140
22
110
23
70
24
40
25
10
26
0
1. Do you think Khaled’s decision to stay open 20 hours is optimal? Why?
2. How many hours do you advise Khaled to stay open? Why?
Question-4
Suppose the market for Computer is given by the following equations for supply and demand:
(2 Marks)
Qd=3300-2P
Os=500+8P
1. Calculate the equilibriumid
2
Sketch the sunnly and demand curves on a granh indicating the equilibrium quantity and price
Hours
Marginal Benefit Per
Hour
200
20
21
140
22
110
23
70
24
40
25
10
26
0
1. Do you think Khaled’s decision to stay open 20 hours is optimal? Why?
2. How many hours do you advise Khaled to stay open? Why?
Question-4
Suppose the market for Computer is given by the following equations for supply and demand:
(2 Marks)
Qd=3300-2P
Os=500+8P
1. Calculate the equilibrium price and quantity.
2. Sketch the supply and demand curves on a graph indicating the equilibrium quantity and price.
As s i gnment 1 ECOI01 ( 2nd Er m2021- 2022)
Deadline: 28/02/2022 @ 23:59
(To be posted/released to students on BB 14/02/ 2022)
Course Name: Microeconomics
Student’s Name:
Course Code: ECON101
Student’s D Number:
Semester: 2nd
CRN:
Academic Year: 1442/1443 H, 2nd Term
For Instructor’s Use only
Instructor’s Name:
Students’ Grade: /10
Level of Marks: High/Middle/Low
Instructions – PIEASE READ THEM CAREFUILY
.
O
.
.
This assignment is an individual assignment.
Due date for Assignment 1 is 28/02/2022
The Assignment must be submitted only in WORD format via allocated folder.
Assignments submitted through email will not be accepted.
Students are advised to make their work clear and well presented, marks may be reduced for
poor presentation. This includes filling your information on the cover page.
Students must mention question number clearly in their answer.
Late submission will NOT be accepted.
Avoid plagiarism, the work should be in your own words, copying from students or other
resources without proper referencing will result in ZERO marks. No exceptions.
All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures
containing text will be accepted and will be considered plagiarism).
.
???????????
??????? ???
Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University
??????? ??????? ????????
????? ???????
??????? ???????? ??????????
SAUDI ELE
WIVERSITY
College of Administrative and Financial Sciences
Submissions without this cover page will NOT be accepted.
Question-1
Bill can produce either tables or chairs. Bill can work up to 10 hours a day. His production possibilities are given in
the table below:
(3 Marks)
Tables
Chairs
0
200
50
180
60
160
70
140
80
120
90
0
1. Explain production possibilities frontier (PPF) by putting tables on the Horizontal axis and chairs on the
vertical axis. What is Bill’s opportunity cost of producing one additional table?
2. Currently Bill is producing 70 tables and 140 chairs. Is this allocation of resources efficient? Why?
3. Show this allocation on me yrapuramu auvise DUHOW He can be more ancient.
Hours
Marginal Benefit Per
Hour
200
20
21
140
22
110
23
70
24
40
25
10
26
0
1. Do you think Khaled’s decision to stay open 20 hours is optimal? Why?
2. How many hours do you advise Khaled to stay open? Why?
Question-4
Suppose the market for Computer is given by the following equations for supply and demand:
(2 Marks)
Qd=3300-2P
Os=500+8P
1. Calculate the equilibrium price and quantity.
2. Sketch the supply and demand curves on a graph indicating the equilibrium quantity and price.
Question-1
Bill can produce either tables or chairs. Bill can work up to 10 hours a day. His production possibilities are given in
the table below:
(3 Marks)
Tables
Chairs
0
200
50
180
60
160
70
140
80
120
90
0
1. Explain production possibilities frontier (PPF) by putting tables on the Horizontal axis and chairs on the
vertical axis. What is Bill’s opportunity cost of producing one additional table?
2. Currently Bill is producing 70 tables and 140 chairs. Is this allocation of resources efficient? Why?
3. Show this allocation on the graph and advise Bill how he can be more efficient.
Question-2
Explain by applying these concepts with examples.
(2 Marks)
1. Rational people respond to incentives
2. Role of prices in allocating resources
Question-3
The table below shows the marginal benefit that Khaled earns from keeping his store open one more
hour. Khaled has a marginal cost of $40 per hour. Khaled stays open 20 hours. (3 Marks)
????????
Mirigykorig
??????? ????
Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University
???? ?????
??????? ??????? ????????
????? ???????
??????? ???????? ??????????
SAUDI ELEC
UNIVERS
ECTRONIC
College of Administrative and Financial Sciences
Hours
Marginal Benefit Per
Hour
200
20
21
140
22
110
23
70
24
40
25
10
26
0
1. Do you think Khaled’s decision to stay open 20 hours is optimal? Why?
2. How many hours do you advise Khaled to stay open? Why?
Question-4
Suppose the market for Computer is given by the following equations for supply and demand:
(2 Marks)
Qd=3300-2P
Os=500+8P
1. Calculate the equilibriumid
2
Sketch the sunnly and demand curves on a granh indicating the equilibrium quantity and price

Purchase answer to see full
attachment

Explanation & Answer:
Worksheet

Tags:
management

business

economics

User generated content is uploaded by users for the purposes of learning and should be used following FENTYESSAYS.COM ESSAY’s honor code & terms of service.