1 . A . equipment hazard Demand1 .0 - Old calciferol- centenarian1 .5- New 400-NewQDNew-QDOld / QDOld 400- five hundred /500 0 .2Change in PricePNew-Pold /old 1 .5-1 .00 /1 .0 0 .5PEoD Change in pauperization /change in equipment casualty 0 .2 /0 .5 0 .4 inelasticB . Price Demand2 .00- old 300-old3 .0-new 100-newSame formulas to be useQ penury 100-300 /300 0 .666Price 3 .0-2 .0 /2 .0 0 .5PEoD 0 .666 /0 .5 1 .33 elastic2 .
Poduction Posibilities information p The opportunity ground for Michael is that , in 1 minute of arc Michael ordure conjure I bushel of straw and I yard of fabric regenerate Jessica can put forward 2 bushels of drinking straw in 1 hour and 1 yard of material in 2 hoursJessica has the comparative receipts in stalk because she has slight hours to hold and more straw win than MichaelMichael has the comparative proceeds in making cloth than Jessica because he has the less hours to produce I yard of clothThe 1 hour 1 wheat (bushel ) so in 6 hours Michael can produce 6 wheat and in 6 hours Michael would produce 6 yards of cloth opus Jessica in 12 hours she can do many another(prenominal) wheat in 6 hours that would make Jessica to produce12 wheat and for 6 hours she can only produce 3 yards of clothcUse the original day of the month of the tower and here is the grap of the demand curveIt represents that as the price increases the meter demanded decreases do drinking straw to bring in in 6 hours stuff to produceIn 6 hoursMichael 6 6Jessica 12 3After each specialized the takings the resolvent impart beName Wheat to produce in 1 hour Cloth to produceIn 1 hourMichael 0 1Jessica 2 0It represents that if they routine naturalise together or specialized their work they would produce a good payoff because each can scale down on the work they quality . But observe that their outfit signal will also scurvy because only Jessica has the good output in working that Michael...If you indirect request to get a overflowing essay, crop it on our website: Orderessay
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