Question

1. After consulting with epidemiologists, you calculate that the European Union will need 50,000 tons of medicine to let Europe minimize the human and economic cost.. Gerry Le Con has called for a new technology that would reduce the cost of producing medicine by enough to meet this target. What would the cost of medicine have to be to let the Europe Union produce 50,000 tons of medicine while also producing 1000 tons of personal protective equipment?

2. The units of your previous answer (the cost of medicine) is in units of ______.
A. dollars
B. workers
C. tons of medicine
D. tons of personal protective equipment

Answer 1

To calculate the cost of medicine that would allow the European Union to produce 50,000 tons of medicine and 1,000 tons of personal protective equipment, we need to know the cost reduction per ton of medicine due to the new technology proposed by Gerry Le Con.

Step-by-step explanation:

To calculate the cost of medicine that would allow the European Union to produce 50,000 tons of medicine and 1,000 tons of personal protective equipment, we need to know the cost reduction per ton of medicine due to the new technology proposed by Gerry Le Con. Let's assume the cost reduction is x dollars per ton. So, the total cost reduction for producing 50,000 tons of medicine would be 50,000x dollars.

To find the cost of medicine, we can subtract the cost reduction from the original cost. Let's assume the original cost of producing 50,000 tons of medicine is y dollars per ton. So, the new cost of producing 50,000 tons of medicine would be (y - 50,000x) dollars per ton.

Therefore, the cost of medicine would have to be (y - 50,000x) dollars per ton to allow the European Union to produce 50,000 tons of medicine while also producing 1,000 tons of personal protective equipment.