-
+1 - 312-224-1615
Get in touch with us
-
support@helpwithassignment.com
Send us an e-mail
Solution Library
Utilizing labor hours optimally by planning production function
Question
Suppose the United States has 32,000 labor hours which they can use to produce either cars or pharmaceuticals. Eight labor hours are required to produce one car, while only 2 hours are required to produce one bottle of a pharmaceutical.
a) Draw the production possibility frontier for the United States.
b) Suppose the relative price of a car is 6. Draw the United States’ consumption possibility frontier. What good does the U.S. export? What good does it import?
c) After trade, the United States consumes 2,500 cars. How many pharmaceuticals does the United States consume? Draw the trade triangle.
Summary
The question belongs to Economics and it is about a utilizing labor hours. A scenario of the United States with 32000 labor hours out of which either cars or pharmaceuticals can be produced. A production function needs to be drawn which can explain how efficiently the labor hours can be used for producing pharmaceuticals as well as cars.
Total Word Count 120
Download Full Solution
WHAT OUR STUDENTS SAY
Fiona O Farrell: I often lost track of the number of variables and how many equations I needed to evaluate in order to find the values. Then I came across HwA where the experts helped me out with two or three problems and helped me get a feel of how it needs to be done. That extra assistance with my simultaneous equation problems really helped me in the long run and I did well in my final exams.
Fiona O Farrell Student
Standard of nursing is different in different countries and for that reason getting a country specific nursing assignment help was important for me. What we are being taught in the Canadian universities like Alberta or Ontario is totally different than what is being taught down south in the United States. Luckily, HwA has nursing experts who belong to the country and are aware of the practices here in Canada. I got immense help from them as far as my nursing assignments are concerned and will definitely recommend them to my friends.
Zoe Cote Student
Before approaching TheReliableTutor.com, zoology was one of the most difficult things in my life. But after taking sessions from TheReliableTutor.com, zoology has become more fun and more interesting to learn. Thank you guys..!!!
Christie Student
Religion as a subject is quite sensitive and I needed my world religion assignments to be worded and structured in such a manner so that the analysis was objective and did not appear to be biased or insensitive. The assignment writers at TheReliableTutor.com understood my requirement and with their expertise in writing managed to provide the assignments exactly the way I wanted
Ian Black Student
You guys never fail to surprise me. Thanks for helping me with my finance assignment.
Marisol Student
Comments
this is a very good website
I have 50 questions for the same test your page is showing only 28
hi can you please help or guide me to answer my assignments. thanks
hi can anyone help or guide me to my assignments. thanks
This solution is perfect ...thanks
Hello Allison,I love the 2nd image that you did! I also, had never heard of SumoPaint, is something that I will have to exolpre a bit! I understand completely the 52 (or so) youtube videos that you probably watched. Sometimes they have what you want, sometimes they don't! However, it is always satisfying when you are able to produce something that you have taught yourself. Great job!Debra 0 likes
Perfect bank of solution.
great !
thanks for the quick response. the solution looks good. :)
thnx for the answer. it was perfect. just the way i wanted it.
works fine.