Consider the following production possibilities frontier model for an economy that produces only two goods: corn and smartphones. 0 20 40 60 80 100 100 80 60 40 20 0 smartphones (millions) corn (millions of bushels) ppf which of the following is true regarding this economic model? the fact that there are only two goods produced in this theoretical economy is a simplifying assumption that still allows economists to demonstrate key economic concepts. this ppf is not an economic model. the fact that there are only two goods produced in this theoretical economy, when, in reality, economies produce many more types of goods, means this model is generally useless. in order to construct such a model, an economist would need real life data regarding countries that only produce two goods.

Ben collins plans to buy a house for $166,000. if the real estate in his area is expected to increase in value by 2 percent each year, what will its approximate value be five years from now?

Luc do purchased stocks for $6,000. he paid $4,000 in cash and borrowed $2,000 from the brokerage firm. he bought 100 shares at $60.00 per share ($6,000 total). the loan has an annual interest rate of 8 percent. six months later, luc do sold the stock for $65 per share. he paid a commission of $120 and repaid the loan. his net profit was how much? pls

5. profit maximization and shutting down in the short run suppose that the market for polos is a competitive market. the following graph shows the daily cost curves of a firm operating in this market. 0 2 4 6 8 10 12 14 16 18 20 50 45 40 35 30 25 20 15 10 5 0 price (dollars per polo) quantity (thousands of polos) mc atc avc for each price in the following table, calculate the firm's optimal quantity of units to produce, and determine the profit or loss if it produces at that quantity, using the data from the previous graph to identify its total variable cost. assume that if the firm is indifferent between producing and shutting down, it will produce. (hint: you can select the purple points [diamond symbols] on the previous graph to see precise information on average variable cost.) price quantity total revenue fixed cost variable cost profit (dollars per polo) (polos) (dollars) (dollars) (dollars) (dollars) 12.50 135,000 27.50 135,000 45.00 135,000 if the firm shuts down, it must incur its fixed costs (fc) in the short run. in this case, the firm's fixed cost is $135,000 per day. in other words, if it shuts down, the firm would suffer losses of $135,000 per day until its fixed costs end (such as the expiration of a building lease). this firm's shutdown price—that is, the price below which it is optimal for the firm to shut down—is per polo.