What happens to the profits of boat makers in short run., Ask an Expert

Economics

Q1. Many small boats are made of fiberglass that is derived from crude oil. Suppose that the price of oil rises.

a. Using diagrams show what happens to the cost curves of an individual boat-making firm and to the market supply curve.

b. What happens to the profits of boat makers in short run? Illustrate what happens to the number of boat makers in the long run?

Q2. Explain how the production possibility curves can be used to analyze the fundamental economic challenges of scarcity, choice and opportunity cost. Choose two products and with the aid of graphs.

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M9159233

Have any Question?Write your Review or question?

Related Questions in Business Economics

Naomi always eats bagels with 1 ounce of cream cheese each

Naomi always eats bagels with 1 ounce of cream cheese. Each bagel eaten in this way provide 15 units of utility. Excess cream cheese or excess bagels do not add to Naomi's utility. Explain the nature of Naomi's utility f ...

From a random sample of 41 teens it is found that on

From a random sample of 41 teens, it is found that on average they spend 31.8 hours each week online with a standard deviation of 3.65 hours. What is the 90% confidence interval for the amount of time they spend online e ...

Give an example of a binary relation which is connected and

Give an example of a binary relation which is connected and transitive but not reflexive.

If the cost of vacation is 938444 what would be the annual

If the cost of vacation is $9,384.44, What would be the annual compound interest rate that would let their saving account accumulate to meet their vacation costs?

Question onethe following is the number of first year

QUESTION ONE The following is the number of first year students who selected the three mathematics units for trimester one; Unit Number of students Calculus only 20 Calculus but not Statistics 22 Calculus and Real analys ...

Cowland copr plans to issue equity to raise 493

COWLAND COPR plans to issue equity to raise $49.3 million to finance a new investment. After making the? investment, COWLAND COPR expects to earn free cash flows of $10.4 million each year.? COWLAND COPR's only asset is ...

1 what is gaap2 what is an audit and why are audits

1. What is GAAP? 2. What is an audit and why are audits performed? 3. What are the three main profibability ratios, and how is each calculated? 4. What is the value of an income statment?

A shipment of 15 televisions sets contains 3 defective sets

A shipment of 15 televisions sets contains 3 defective sets. A hotel purchases 9 of these televisions sets. What is the probability that the hotel receives at least one of the defective sets?

A manufacture claims that the life span of its tires is

A manufacture claims that the life span of its tires is 52,000 miles. You work for a consumer protection agency and you are testing these tires. Assume the life spans of these tires are normally distributed. You select 1 ...

What happens if wages and prices adjust very quickly in

What happens if wages and prices adjust very quickly in response to various shocks to the economy? Does this make business cycle, expansions and contractions in the economy, shorter or longer?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert