Consider a production problem with one factor of production, L; two manufactured goods, x and y; and two people, A and B. Suppose the aggregate endowment of L is 20, and x and y are produced according to the following production functions: xൌfሺL௫ሻ ൌ L௫ and yൌgሺL௬ሻ ൌ 6L௬. At the allocation ൫ሺL௫, L௬ሻ, ሺx஺, y஺ሻ, ሺx஻, y஻ሻ൯ൌ൫ሺ16,4ሻ, ሺ4,12ሻ, ሺ12,12ሻ൯, what is A’s resource footprint?

Find the expected net profit of an insurance company on a health-insurance policy if: the probability of a $5000 claim is 20%; the probability of a $1000 claim is 60%; the probability of a $20,000 claim is 10%, and the probability of no claim is 10%. the company charges $4000 for this coverage. interpret your answer.

The interaction of individual choices because a type of fish is on the verge of extinction, the government imposes rules that prohibit fishing in the publicly owned spawning grounds. at first owners of fshing bouts complain about this restriction on where they can fish, but soon they notice that the number of adult fish swimming outside the protected area is much higher than it was before. with the restriction, each fishing boat ends up catching more fish than it did before the r which of the following principles of economic interaction best describes this scenario? o there is a tradeoff between equality and efficiency o markets usually lead to efficiency. o when markets do not achieve efficiency,government intervention can improve overall welfare o markets allocate goodseffectively

Arguments made against free trade include all of the following exceptdumping is an unfair trade practice that puts domestic producers of substitute goods at a disadvantage that they should be protected against.national defense considerations justify producing certain goods domestically whether the country has a comparative advantage in their production or not.free trade is inflationary and should be restricted in the domestic interest. if foreign governments subsidize their exports, foreign firms that export are given an unfair advantage that domestic producers should be protected against.infant industries should be protected from free trade so that they may have time to develop and compete on an even basis with older, more established foreign industries.