subject
Mathematics, 11.02.2020 03:57 Calirose

Suppose there are two individuals, Casey and Rick, who live in a very simplified world where only two goods are produced and consumed: rice and beans. The production opportunity cost for Casey is
4.00
kg
of rice for every kilogram of beans. Rick has a production opportunity cost of
2.00
kg
of rice for every kilogram of beans.

Casey eventually realizes that, through trade, both individuals can be better off. Rick is willing to trade. What price can be settled between these two parties such that both individuals can enjoy more rice and beans? Give your answer to two decimals.

ansver
Answers: 3

Another question on Mathematics

question
Mathematics, 21.06.2019 16:30
Which approach to the theory-and-research cycle does the following sequence reflect: (1) specific observations suggest generalizations, (2) generalizations produce a tentative theory, (3) the theory is tested through the formation of hypotheses, and (4) hypotheses may provide suggestions for additional observations?
Answers: 1
question
Mathematics, 21.06.2019 16:30
Hillel is juggling flaming torches to raise money for charity. his initial appearance raises $500\$500 $500 , and he raises $15\$15 $15 for each minute of juggling performance. the amount rr r of money hillel raises is a function of tt t , the length of his performance in minutes. write the function's formula.
Answers: 1
question
Mathematics, 21.06.2019 18:00
Ateacher noticed 5/8 of the students were wearing either blue shorts or white shorts. write two different ways this could be done.
Answers: 2
question
Mathematics, 21.06.2019 18:30
Players on the school soccer team are selling candles to raise money for an upcoming trip. each player has 24 candles to sell. if a player sells 4 candles a profit of$30 is made. if he sells 12 candles a profit of $70 is made
Answers: 2
You know the right answer?
Suppose there are two individuals, Casey and Rick, who live in a very simplified world where only tw...
Questions
question
Physics, 04.05.2020 23:52
question
Mathematics, 04.05.2020 23:52
question
Mathematics, 04.05.2020 23:52
Questions on the website: 13722367