Principles of Economics Assignment Example | Topics and Well Written Essays - 1000 words - 6

Principles of Economics - Assignment ExampleThis is a factor that will result in students missing on the services and others will prefer to park out of school wile others will be forced to use other means of transportation that are likely to inconvenience them much. utilize students will feel the pinch the most. Their time will be wasted with most of them opting for external set. Unemployed students have adequate time to look for parking and if not for the rush to class, they will be the greatest benefactors of the lowered parking bells.Opportunity cost refers to the loss of one alternative when the other is chosen. 100 kookie are equivalent to the exertion of 400 rackets. Producing an additional 100 cricket bats will thus result in the loss of 400 rackets.The larger backing off is brought about by the equal rate of producing the two items in the second scenario. While the other will result in the loss of more rackets, the second scenario results in the loss of 100 rackets. T his is more admissible than in the first case.f. Suppose Athletic Country is currently producing cc bats and 200 rackets. How many additional bats could they produce without giving up any rackets? How many additional rackets could they produce without giving up any bats? (4 Marks)The production of equal number of the two simply results in equal number of either item in case of a trade-off. In this scenario, one bat or racket traded off results in the loss of one racket or bat preferred over the other.This type of production is efficient as it ensures effective returns for the capital invested. In case of an increased demand on either of the two, the firm simply halts the production of the other thereby maximising on the capital.In order to reduce smoking, the government places an additional tax of 2 on a pack of twenty cigarettes. After one month, while the price to the consumer has increased a great deal, the quantity